Your shopping cart is empty!
How has Brexit Affected the Overseas Property Market?
Europe is still feeling the after effects of the event of June 23, 2016 when a majority of Britons voted to leave the European Union. The Brexit referendum was one of the most shocking developments of 2016, and will have repercussions in 2017 and beyond.
So what can those who are looking to sell overseas property expect from all of this? We take a look at the property market in major overseas property destinations in Europe and tell you how well or how badly they have reacted to the Brexit referendum.
There’s a lot of interest in Spain from cash rich buyers from emerging countries such as Russia and China, so we can tell for sure that Spain has held on pretty well so far. The Brexit vote hasn’t really had too much of an effect on Spain, contrary to the assumptions made by many experts earlier in the year.
Indeed, demand for Spanish properties from UK buyers has remained quite strong and we don’t see that changing anytime soon – Brexit or no Brexit. Spain is still undervalued by up to 25% compared to the highs last seen in 2006, so this is the perfect time to invest in Spanish property.
If you’re looking to sell your overseas property in Spain, you will certainly benefit from the strength of the Euro vis-a-vis the Pound, which means you will get more for your property now, than you would get before the Brexit vote.
Real estate agents in France have reported a high number of enquiries not just from wealthy, cash rich Chinese buyers, but also from British buyers, following the Brexit referendum. There’s a huge demand for French properties, especially for those in ultra fashionable French Riviera.
Mortgage rates in France have dropped appreciably this year, so it’s now possible to get fixed-term mortgage for just 2.15%. The low mortgage rates coupled with the decline of the pound makes properties in France a very attractive investment indeed. As usual Britons are the biggest buyers of properties in France. So this is unlikely to change in a hurry.
Are you looking to sell overseas property to cash rich buyers in Germany? Well, 2016 has been a robust year for the German property market. It’s been business as usual there and things have been good regardless of Brexit.
In fact, more than Brexit, the refugee crisis has had a major impact on the German property market. Once Germany gets hold of the refugee problem, we expect things to get only better there, as a number of multinational corporations and professionals from UK are expected to move to Berlin, Frankfurt, Stuttgart and Munich following Brexit.
We are big fans of the Dutch property market, for the simple reason that it is set for a period of continuous growth not just in 2016 or 2017, but much beyond that. Brexit has had a positive impact on the property market in the Netherlands.
A number of business executives working for large MNCs are looking to move to Amsterdam once the UK officially decides to leave the European Union. Amsterdam is considered by many to be one of the most liveable cities in the world. So if you’re considering selling your overseas property in Amsterdam, this should be good news for you.
If you have decided it is time to sell my overseas property after the brexit vote contact us today to sell to overseas investors.