Malaga estates and Spanish property market after Brexit
The British prime minister Theresa May announced she will trigger Britain’s formal exit from the EU on 29 March 2017. What does this mean for the property market in Spain and more specifically for Malaga estates for sale?
It is sure that there has been an unvoidable impact for 9 months since the British referendum. Statistically one in five foreign buyers are British, and any fall in their activity is likely to have a noticeable effect on Malaga estates sales. The only tangible effect of the Brexit vote in 2016 was a fall in the value of the British Pound. As a consequence of this, smaller properties and cheaper locations became winners. UK buyers have adopted a ¨wait-and-see¨ policy since February 2017.
Challenges on the Malaga estates market after 29 March 2017
In reality, however, 4 out of 5 buyers are NOT British. In addition, Malaga estates prices may be higher than in other Spanish provinces like for example Almería and Valencia, but this has been the case for many years. In the province of Zaragoza, for example, average prices are around €20,000. Malaga Estates, your Malaga real estate specialist, will do fine thanks to their focus on many markets the British being only one of them. For Malaga Estates, Brexit is creating opportunities to serve you as a seller or buyer in the best way possible.
Read further on Malaga Estates´ blog
Click here to read further on Malaga Estates website.