Property Investment Highs and Lows
Let’s take a look at buying a property in a post-Brexit Europe, starting with currency exchange rates. The Euro, at the time of writing, is faring fairly well, rising steadily since the referendum in June 2016. What this means is that for people who are converting from Sterling to buy anything in Euros – from a hotel room to a house – it is going to be a bit more expensive.
Each Euro is currently around 15p more expensive than it was two years ago. This adds up quickly if you are thinking of spending €300,000 on a luxury villa.
Is this really important though? Investments go up and down but people continue to invest, particularly in land and property. There are some parts of the UK where property prices have risen more than 15% (and some places where they have fallen).
The uncertainly of Britain’s relationship with the EU is a concern to people who are thinking of buying somewhere in France, Spain, etc., as well as those who had already made the decision and moved there prior to the Brexit vote. Many British people work and live in the European Union and a fully integrated Europe gave rise to a number of mixed nationality families. For example, if Britain leaves the EU, what rights will you have if you decide to live permanently in Europe?
Meanwhile, of course, if you’re just looking for a holiday home, investing in a property is likely to remain a relatively easy process. After all, many Brits have holiday homes in Florida and other non-EU locations.
Holiday homes in the sunny Costas were growing in popularity before Britain joined the EU. It became a little easier to buy homes and travel throughout Europe when we were all one and Brexit may make the process a little more difficult, but not impossible.
Maybe the right time to buy is now? As Theodore Roosevelt is quoted as saying “Nothing worth having comes easy”. However, the Designer Villas team has expertise to guide you – call now for an initial discussion: Tel: 07970 630613 (or email your questions to: email@example.com).