Brits selling Malaga homes in record numbers since Brexit

Malaga province has seen a 16.5% increase is Brits selling up

LAST UPDATED: 10 Feb, 2017 @ 14:11
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Velez Malaga
Velez Malaga

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’.

 

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28 COMMENTS

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    • Stuart, I thought the sales of properties in Spain was kaput and now we hear of record sales, besides how does that fare with hundreds if not thousands of illegal properties. I suppose if one was looking for a cheap holiday flat or villa now would be a good time to purchase. I don’t mean those that rely on a 3/4 pounds rise in a pension but people that do have a few bob spare and not looking for an investment but somewhere to sit in the sun. Regardless, do people really think that living in the UK would be cheaper than living in Spain, a Pound is a Pound wherever you live. Besides the EU is now on a “cliff Edge” and Spain would welcome any form of investment. Does that also mean there maybe a huge drop in British tourism because of the pound and as I had as said a Pound is a Pound. Trade and business will still carry on after Brexit and people will not be kicked out of Europe. Am I wrong?.

  1. Conditions may change, agreed. If i were them I would sell to a Spanish company owned by a foreing firm. Behnd all that it´s me again, greetings.

  2. I recall that Velez Malaga gained more British this year, so not sure why the caption is of Velez. People are alao now realising that the CDS areas like Marbella are overpriced and crime-ridden, and are now selling up.

    • Agreed, the Axarquia region is popular with foreign buyers and there has been an increase in Dutch, Belgian and French nationals. I imagine the sudden influx of Brits is due to people wanting to get in before the dreaded A50 is triggered.

      In the long term, I think the future of Brits moving to Spain could go either way. If the Associate EU Citizenship scheme is implemented then there will be large numbers of Brits wanting to get out of the UK and some will relocate to Spain. If this scheme doesn’t float, then Brexit will mean a demographic shift in Spain and Brits will gradually be replaced by other nationalities.

      Also agree about Marbella, it has the feeling of a place that’s had its day.

  3. OP, shall try again and wonder why my comment was blocked.
    Stuart, I thought the sales of properties in Spain was kaput and now we hear of record sales, besides how does that fare with hundreds if not thousands of illegal properties. I suppose if one was looking for a cheap holiday flat or villa now would be a good time to purchase. I don’t mean those that rely on a 3/4 pounds rise in a pension but people that do have a few bob spare and not looking for an investment but somewhere to sit in the sun. Regardless, do people really think that living in the UK would be cheaper than living in Spain, a Pound is a Pound wherever you live. Besides the EU is now on a “cliff Edge” and Spain would welcome any form of investment. Does that also mean there maybe a huge drop in British tourism because of the pound and as I had as said a Pound is a Pound. Trade and business will still carry on after Brexit and people will not be kicked out of Europe. Am I wrong?.

      • “now we hear of record sales”

        Yes, but from where Carlos? When there are so illegal homes, as you say, why believe Spanish statistics? Cheaper living is one thing, having no rights is quite another.

        • Well Fred, who should I believe, statistics or you. You stated:-
          “I recall that Velez Malaga gained more British this year”. Where did you gain that information. Perhaps information would be better if the number of Villas that were sold and the amount of flats that were sold and perhaps the total amount they generated thrown in. At the moment it’s a guessing game, such as a percentage of what figure. I must admit though that some of the postings by OP are, shall we say, a bit ambiguous.
          As for the illegal’s (buildings) not quite sure where they get the figure of “thousands” that I have red. I suppose one could know the amount of legals due to them having a “Escritura” and legally registered, but illegals is really a guessing game, so basically I take these assumptions with a pinch of salt.
          As for having no rights, well I’m afraid that’s Spain but in saying that perhaps you could give an example if you own your home in Spain.
          Lets just hope within the negotiations a passage covers the rights of all people living within the UK and the EU especially expat pensioners rights to their pensions and medical care. Status Que. Not quite sure how they will get around a visa situation unless a British passport would be sufficient, otherwise a bit cumbersome for holidays and residency’s etc. All queries will no doubt be good or bad, we shall have to wait and see but in the meantime Brits will continue to purchase properties in Spain “if the price is right” and the right of all nations to have a control on immigration. BTW Fred, I do have privy (in fact privy to a lot of things) one being of the immigration situation much to stefanjo’s inapt knowledge of not knowing. lol

  4. Well stef you seem to have got away with it longer then you should have?, besides, I think stuart is quite capable in answering for himself without you poking your little nose in.

  5. Carlos,
    it can’t be lost on anyone that Aunt Sally never ever proposes anything, he repeats the catchphrase of the day but never ever anything original.

    Repeatedly many have said over the years – rent don’t buy, that must remain the mantra. The stupid ill-informed comments on Brexit are hilarious for most of the Dutch and Germans who actually research before commenting.

    For anyone Brit living in Spain Brexit is or should be the least of their worries. The threats coming from the Belgian spiv lawyer and the drunken ugly tax fraudster Juncker should be seen as poor poker players doing their best with a crap hand.

    Romania could be a classic example of the unexpected changing the game and how it is played but perhaps that is too deep for many to understand. Or it could be Greece and the utter hypocracy of the Germans. Both France and the Netherlands could be game changers, especially France with the corrupt Fillon still not arrested for fraud of over €1million.

    Europe’s banks are losing business to the American banks. It is’nt lost on Europe’s ordinary savers that they have been treated with contempt for years now, whilst the banks and the elites have been bailed out and the elite have grown immeasurably richer. It is’nt just France and Romania where the political parasites are corrupt to the core – the people of Europe are watching and the anger is growing. Of course this change will not happen in the UK – lots of mouth (stefanjo) but no trousers.

    If it is lost on many what I am saying is that investing in an illiquid asset like a house or any time dated product locked into a particular currency is not an intelligent thing to do. Will the Euro survive? If it does it will be a core currency for how many countries, Spain will most definitely not be one of them – think inflation, job losses – rent don’t buy.

      • stef, not admitting to anything, believe your reply was directed more to Stuart and know doubt you will get an equal comment from him. Can’t make you out, you seem so indicative to anyone that does not share your opinion. There’s a word for that but afraid OP would ban it. If Brexit fail’s I shall be happy for all those ex Brits living in Spain, that’s how democracy works but afraid you just don’t get it. Don’t you have better things to do in your life other than living a life of a boring tweeter. Whew, you must be the perfect neighbor, feel sorry for them. Grow up.

  6. Juncker is not seeking a second term it has been reported. Fillon has also been indicted now, so at least French justice seems to work a bit faster than in Spain. I’m not sure France will be a game-changer as far as “EU destruction” is concerned, as Le Pen has now stated she wants France to stay in the EU, albeit with reforms, and I think she will get those reforms should she win (if she’s telling the truth of course). A reformed, or two-tier EU may be the reform that is needed.

  7. Fred and I may disagree on many things but his posts are not stupid regurgitations of things others have said or pathetic insults, camp followers never contribute anything of substance.

    Fred it’s news to me that Fillon has been charged. Marine will if elected take France out of the Euro. The Euro and the initial low % rates only ever benefited German big business. I think for many ordinary Europeans the almost unanimous election of Juncker was the lifting of the final veil. That this creep sat on a committee to look into tax evasion and corruption – a committee that few outside of the Brussels cabal ever knew existed and that he vetoed, along with the Dutch any attempt to investigate for years and years shows just how venal the EU is and now with SETA and Bayer buying Monsanto the corruption is complete. Like yourself I repeat the mantra – rent don’t buy.

  8. Fred,
    I understand he is to be charged next week. The interview in 2007 with his wife makes him clearly guilty of fraud, using two of his children who were law students at the time they were employed is also fraud. Thing is I doubt he will get more than a slap on the wrist.

    The fact that Macron blatantly used €150K of tax payers money to fund his campaign has quietly been dropped by the press but not Marine Le Pen’s €300K of Brussels EU money to pay for party workers to help her with her EU work – double standards at work here, not lost on ordinary French people – vamos a ver.

  9. What, being charged or not being charged and as you say doubt he will get more that a slap on the wrist by what I understand as he has offered to pay back the money in question.

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