UK buyers holding off 2nd home purchase in Spain

[realdeals]

Are UK buyers really putting off a purchase of their second home in the Spanish sun?

http://www.examiner.co.uk/news/property/brexit-putting-people-buying-second-13394527

Only a few weeks ago it was reported that UK buyers were returning to Spain.

 

[Longterminvestor]

The drop in the value of sterling MUST have put some buyers off but UK expats seem to be attracted to Spain like a magnet - they will be back!

 

[realdeals]

Never really thought of that - that is a big negative for UK buyers.

 

[James Glassbrook]

Are UK buyers really putting off a purchase of their second home in the Spanish sun?

http://www.examiner.co.uk/news/property/brexit-putting-people-buying-second-13394527

Only a few weeks ago it was reported that UK buyers were returning to Spain.

.

There is considerable international interest in Portugal and prices are rising again.

 

[diyhelp]

Where is the interesting coming from? I would guess UK buyers are sitting on the sidelines at the moment in light of the currency fall over the last 12 months?

 

[realdeals]

A 20% loss on the exchange rate is a hefty hit to take - personally I think we have seen the peak in expat Spanish purchases for the foreseeable future.

 

[Terry Clark]

Hi, I am not sure I am in the right place or not but am looking to buy a property with my wife and I have seen in Malaga and am looking for a good broker with good rates as I have recently compared with my bank of 17 years and the rate offered was laughable at best.

 

[Longterminvestor]

Are you looking to moving to Spain or is this more of a holiday home?

 

[Terry Clark]

Are you looking to moving to Spain or is this more of a holiday home?

Hi, Sorry for the late reply.

We are looking to buy a home to retire.

I have a few brokers who have been calling all the time as normal sales people trying to fight for the business. All I am looking for is good service to help me through this and a good and fair rate. I have been recommended a broker and they seem good so far when talking to them. Is it possible to compare the rates I have got from these guys?

 

[lookinginvest]

What kind of rates have you been quoted? The Spanish property market is showing signs of recovery but I think a lot of the recovery has been seen inland as opposed to on the coasts. There is also a crisis brewing with the Catalonia issue.

 

[Rebecca. Bradford]

A 20% loss on the exchange rate is a hefty hit to take - personally I think we have seen the peak in expat Spanish purchases for the foreseeable future.

Hi,
New to this forum and hoping to buy first property abroad.
Would appreciate any advice on this. Will be taking money from our own home equity to do this with a view to buying more property in the future
Thanks in advance

 

[diyhelp]

Hi @Rebecca. Bradford

Sorry for the late reply, I have just seen your post. Are you looking to buy a property in the traditional holiday regions or something inland? There have been signs of a recovery in the traditional Spanish holiday property market but UK buyers are still holding back in light of uncertainties surrounding Brexit.

 

[DC]

The best way to avoid currency devaluation of sterling is to take a mortgage in Spain.
The money is very cheap. So you save cash, and low exchange rate.

 

[lookinginvest]

I would have thought we have seen the worst of sterlings devaluation so locking into current sterling rates by converting to the Euro seems dangerous? I fully expect sterling to recover at some stage - how far nobody knows - so I would be inclined to hold off as a holder of sterling?