Brexit and housing
Written by Contact Us

Brexit and housing, the great unknown

There are barely a few weeks left to know if the United Kingdom leaves Europe without agreement. The relationship between Brexit and housing will be one of the unknowns. Foreign demand would be the first consequence.

En, Teresa Álvarez He has analyzed the situation we face with the help of industry experts. A Hard brexit It would mark the evolution of purchase in the real estate market by the foreign buyer in Spain.

To Luis Corral, CEO of Contact Us leaving the UK without agreement it would produce a devaluation of the pound against the euro "and, therefore, the rising price of housing for the British buyer." Anyway, Corral is still optimistic and hopes that the release is not so abrupt.

What would be the most affected areas? The Valencian community, especially the province of Alicante and the Costa del Sol, since they are the areas that have the largest colony of Britons in Spain.

Before a devalued pound, housing would be more expensive

And, given a devalued pound, the houses would be more expensive and with the same budget, the buyer should face the purchase of a smaller house. Or not buy.

Anyway, Luis Corral, believes that, although the demand of the British drops a little, there are buyers of other nationalities and also Spaniards who support the market in those areas.

But, the experts consulted do not dare to predict what will happen next October 31, how it will be out, and if it will be with or without agreement.

The complete information you have in the report of Floors.


Main Image: @crdeprada

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