Non EU people have no problem buying property in Europe

The Swiss, Norwegians, Americans and citizens of many countries outside the EU, have all been buying property abroad without problems of any kind for years. It will be just the same for Brits post Brexit but probably easier.

We believe it is most unlikely that European countries will single UK citizens out for especially unfriendly treatment not least of all because of the number of  Europeans living in the UK that would be vulnerable to reciprocal unfriendliness. The fact is that, despite Brexit or no Brexit it is in everyone’s interests to co-operate.

So here is the list of what everyone is scared about:

Number one is the list itself: uncertainty
What will happen? We don’t know! That is very scary. Not a very clever reason to be scared we think you’ll agree but nonetheless the most potent and ironically the most real!

At the moment you are covered if you’re on holiday and if you have retired. So if healthcare arrangements change this could be a factor for anyone thinking of spending their time abroad and in cases where frequent visits to hospitals may be needed. We expect most people will go back to the UK for their final years anyway or if they had some debilitating illness. In our opion reciprical healthcare arrangements will remain unchanged. A reciprocal agreement is in everyone’s interests.

If you are drawing a pension you can draw it in the UK and transfer it over. For expats with private pensions there will be QROPS, which are much more tax efficient than for UK residents and these are available now.

Extra Property Taxes
Although this is possibly the most scary factor we can’t think the Europeans would tax the Brits above the Swiss and Norwegians, but we think this one is unlikely.

The Right to Work
This is probably the most likely to change as it looks like the UK wants to restrict the EU citizen’s right to work in the UK. You may be required to get a work visa and fill in some paper work.

By the way if you already live in a European country you are protected by the Vienna Convention of 1969, which says that the termination of a treaty “does not affect any right, obligation or legal situation of the parties created through the execution of the treaty prior to its termination. In other words you carry on as before.

What about the effect on the market?
Frankly this is negligible even though UK citizens represent a significant part of the foreigners buying in European countries. And the more up market you go the less effect it has. Well-off people are not going to let pension and health care matters stand in their way.

The Attractions of moving to a sunnier place are Just too strong
The simple fact is that moving to a sunnier place offers a better quality of life, to have a holiday home in and retire so that people will just put up with almost anything to be here: perfect climate, friendly host culture (democracy within the EU), first class communications, beautiful scenery, beaches, golf, outdoor sports and mountains, great food, buzzing night life, fascinating history and culture and lets not forget the beautiful sunshine!

Actually the market is very healthy at the moment at least for good quality property. That is beach front property, good quality buildings in up-market areas, especially with sea views and close to the coast. Good plots for building are restricted in supply and prices are going up. We will almost certainly look back and say the bottom of the market was 2015.

The Pound Has Fallen in Value
Yes it has and you have 10% less spending power than you did a few months ago. Well there always have been, and will continue to be, adjustments in the relative value of currencies. It may affect your decision at the margin but it wont stop the market beyond the short term. The new rates become the norm and people get on with it. If you are making plans to retire or enjoy your life you can’t wait for the currency market to be right, but you can do something about it now by contacting our most respected currency partner Smart Currency Exchange and get the best currency exchange possible, get a free quote here at