Owning Property in Spain
As the Brexit negotiations are nearing their conclusions, it is currently looking like there might not be a deal between Britain and the EU (as of 10th Dec 2020). Consequently, many Brits who currently own property, or are thinking of purchasing property, are understandably concerned as to how the situation will directly affect them. Here, we try and allay some of the concerns and explain how the details will work. Fortunately, Britain and Spain have already issued some guarantees to its citizens that currently reside in each other’s countries, so this article is more concerned with holiday home owners and tourists.
Will I still be able to buy property in Spain?
As the current legislature stands, Spain does not impose any requirements to be a national of an EU country in order to buy property in Spain. Indeed, there are very few restrictions on ANY country in the world and therefore there should be no affect in this regard when Brexit comes to pass.
Will there be additional purchase taxes for British after Brexit?
No, the taxes due upon purchase are the same for any buyer, regardless of nationality and this will almost certainly remain the same after Brexit. The British are one of the biggest market segments for buying Spanish property, so it is extremely unlikely that the Spanish government will do anything to undermine this market.