Happy days for second homeowners in Spain?
Even the additional paperwork following Brexit was costly...
Up until now, non-resident Britons have only been able to enjoy a 90 day stay out of 180 days per year following Brexit. | M.J.U.
It seems that hot on the heels of France, Spain is also baying to drop the 90-day rule for Britons with second homes in the country. Up until now, non-resident Britons have only been able to enjoy a 90 day stay out of 180 days per year following Brexit. This has led to many UK buyers selling their dream properties and it has undoubtedly proven hugely damaging to the Spanish economy. Frankly, it didn’t take an Einstein to work out how losing lucrative spending by foreign buyers throughout the year, particularly in lean seasons, would lead to foreign property stock being sold and a depleted economy.
Whether the petition by the Spanish government is heard by the EU is anybody’s guess but hopefully strength in numbers will have an effect, with France also determined to change the situation. It’s frustrating how Brexit really brought penalties to those of us wishing to either live or have homes in Spain, and indeed in other EU countries.
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2 comments
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Brits selling up and moving on isn't actually bad for the economy. Bottom line is they bought dear and are selling cheap, so the difference is getting left on the table in Spain, not as a profit subject to capital flight back to the UK. On top of this, a glut of cheaper 2nd homes will encourage other EU citizens to buy, seeing discount bargains. Every time a property changes hands, estate agents, lawyers, government and builders earn, and the new occupants will not be subject to 90 day restrictions, and so likely spend more time and money into the local economy, than the departing Brits.
"... with France also determined to change the situation..." This is untrue, and I do not understand why you keep repeating this wrong information.