The departure of the United Kingdom from the European Union, Brexit, has affected the sale of homes in Benalmádena. The real estate market in the city is undergoing changes, as is happening in the rest of the Costa del Sol. According to the real estate agencies consulted by Ole Benalmádena, “in recent months they have increased the offers of houses for sale by part, especially of retired Britons ”, to whom the stricter immigration rules or the cost of medical care expenses, have made them consider maintaining their second residence in Benalmádena.
In general, according to the latest studies on the Spanish real estate sector, the progressive fall in the market comes from further behind the departure of the British from the European Union, but the reality is that it seems that Brexit has accelerated the process. The United Kingdom has led the purchase of houses in Spain for years and although, according to official data from the College of Registrars, they continued to lead in the second quarter of this year, total purchases have plummeted and are closely followed, by first time, for Germany.
The real estate agencies consulted by Ole Benalmádena agree that “although it is not real that they are going en masse, the statistics of British retirees who have put their houses up for sale in Benalmádena have risen a lot and, proof of this is that moving companies can’t cope ”.
In general, according to the data managed by these companies, they are pensioners without a residence who overwhelmed by the bureaucracy and the new requirements decide to sell their second residence in Benalmádena and return to their country. It cannot be forgotten that the british public pension is one of the lowest on the continent and the new relations due to Brexit they oblige the British who have a house in Spain and who do not have a residence permit to prove financial means to sustain their stay in our country.
The the profile of the new investor seems to be changing in the city as well. Despite the Brexit storm, the arrival of British people to the Costa del Sol in search of residence has not come to a standstill but has dropped enormously and their profile has changed. In this sense, the real estate company GyM points out that “now there are lots of foreigners -not just from the UK- seeking residence, especially rent, with the intention of telecommuting from Benalmádena ”. In fact, the real estate agencies consulted by this means, highlight that finding a rental in the city has become an almost impossible company due to the great demand experienced since months ago.
The new profile is moving away from the one we were used to and they are more and more “young people with resources ”who are choosing Spain to buy a home and many of them are opting for a prime housing, of at least half a million euros, which would allow them to achieve the resident status through the Golden Visa. Although, according to the statistics of the sector at the state level, this new resident before the Costa del Sol prefers to live in Madrid, Barcelona and even, in recent months, Vigo is emerging.
Navas meets with British residents
For his part, the mayor, Víctor Navas, held a meeting this morning in the Innova building with British residents, to make himself available to them and resolve any questions related to the City Council, with special attention to the consequences of Brexit.
The mayor has underlined the importance of foreign residents within the Benalmádena register, “since they account for slightly more than 30% of the total population of the municipality.”
TheBritish is the largest community of foreign residents in Benalmádena, and they are now suffering from the uncertainty generated by Brexit, which is why, according to the mayor, “it is especially important that we are here today to participate in this meeting, together with lawyers specialized in residency issues ”.
During this meeting, their needs were answered and doubts in aspects such as residency, health insurance or taxes and at the end of the issues related to Brexit, the mayor made himself available to the assistants to resolve any doubt or question related to the municipal news, showing the assistants especially concerned about the closure situation that the park is currently going through Tívoli attractions.