THE number of British owners selling their Spanish homes has skyrocketed since Brexit.
Malaga province has seen a 16.5% increase is Brits selling up since June 23, with most sales occurring on the a del SCostol.
The data was collated from estate agents by the Colegio de Administradores de Fincas de Malaga y Melilla, a government owned corporation that represents property professionals.
It said that fears over a devaluation in the pound and over the medium and long term consequences of Brexit were to blame.
“The uncertainty of the UK’s economic future is pushing many Britons to pose a situation unthinkable until months ago: selling their home in Malaga” said Fernando Pastor, the organisation’s president.
“We have found that both UK citizens who live here and those who have their second home in our province have changed their perception of real estate investment and prefer to sell property now before the economic context changes further.”
Pastor said that most of the homes being sold were in residential complexes between Marbella and Malaga.
He added that, according to the organisation’s findings, most of those who were selling were ‘solvent people who prefer to insure their investment against the risk of the new political and economic situation’.