Spain property market
Whether you dream of a bolt hole on the Costa Blanca or the Canary Islands, here’s our guide to buying amid Covid and Brexit. By Zoe Dare Hall
Despite Brexit, the pandemic and any other hoops that lie between us and enjoying homes in the Spanish sun, the British are still by far the most prominent of foreign property buyers in Spain. Just under 4,000 property sales were to British buyers last year, with sights set mainly on the Costa Blanca, Costa del Sol, the Balearics and Canary Islands.
Goodbye EU, but it’s not game over
Gone are the days where you could pitch up in your car and start a new life in Spain. Now there’s a 90-day limit for Brits on and a stay of up to 183 days in the country, without affecting your UK tax status. You can also apply retrospectively if you have bought a Spanish property since September 28, 2013, when the scheme launched.
There’s also the lesser-known non-lucrative visa. To qualify, you need a Spanish address and suffcient funds (€26,000 a year for the main applicant and €6,500 for subsequent family members).
For most holiday-home buyers, though, a 90-day stay is plenty. “For every British client who says they can’t be bothered now because of Brexit we see two new clients who are keen,” says Marc Pritchard, the sales and marketing director at Taylor Wimpey España (TWE).
Javea and Denia have long been hotspots for British homebuyers at all prices levels (for value see TWE’s Kiruna Residencial near Elche, with three-bedroom townhouses for
€191,000). And there’s the added beneﬁt that you can zip over to the Balearics by fast ferry for the weekend. Although these coastal towns are getting their own taste of Ibiza-style cool, with OliBaBa Chiringuito in Oliva one of the most famous beach bars in Spain, Puro Beach and Zensa among Denia’s new day clubs, and Javea’s new boutique hotel Nomad causing a stir.