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September 2017

UK still seeks place in the sun

Published: Tuesday 26 September 2017

By Rachael Kinsella

The past weekend saw another very successful A Place in the Sun Live! International property exhibition at Birmingham’s ever-popular NEC. Marking over ten years of the show for Brits searching for sunnier climes, a holiday home, or a new life overseas, over one thousand attendees came through the door on Day One alone, with visitors flocking to the NEC to meet the property, financial and currency experts needed to find their spot in the sunshine. It seems that appetite for property abroad is as strong as ever, regardless of Brexit and multiple political and economic changes worldwide.
With recent discussions to secure the rights of expat pensioners and an agreement in principle with Spain to retain the healthcare rights of UK retirees in Spain, some of the key concerns about the effects of Brexit on British property owners overseas seem to be falling by the wayside. Spain has long been the favourite destination for British property buyers and expats, and one of the major worries raised before and after the UK’s vote to leave the EU has been expat rights, with healthcare the number one concern.
Spain’s popularity with British holiday home owners and expats shows no signs of diminishing. In a recent survey of the top destinations, Spain came out on top as usual, with the number of properties purchased increasing again in August, despite economic and political uncertainty across the UK and Europe.
Andy Bridge, Managing Director of A Place In The Sun Ltd., feels that UK buyers are in prime position to buy their home abroad: “Despite Brexit, UK nationals wanting to purchase abroad still find themselves in a strong position.”
It seems that a recent change in attitudes to buying property overseas bear this out.
Mimzee Brewer, overseas property specialist at Halo Financial, commented,
“It was great to see such strong attendance at this year’s Birmingham expo. With would-be property buyers wanting to gather as much information, guidance and advice as possible, face to face opportunities like the APITS show are a valuable opportunity to do just that in a safe and quality controlled environment.”
“As we saw last year, in the wake of the Brexit vote, overseas property buyers are now savvier that ever before, needing the right support and resources throughout the whole buying process – from deciding on a country and location, to choosing the right type of property, to securing the property and ensuring the purchase goes smoothly. Buyers of property abroad need to understand how it all works and consider key elements such as the financial aspects of a purchase as far in advance as possible.
“We are seeing more and more potential homeowners doing their homework and planning ahead, with the help of trusted advisors and professional services, to navigate any economic and political uncertainty and understand what it means for their circumstances.”
“We have also found that the UK public is more aware of currency exchange rates now than ever before, having seen the Pound slump after the EU Referendum and follow a rollercoaster ride ever since. We’re here to help buyers to understand the implications and make the most of these currency fluctuations so they can take steps to save money when buying their overseas home.”
Alongside Spain, France and the US remain popular choices, with Florida still a hotspot for overseas property buyers, despite Trump and the threat of hurricanes…
Top countries for British property buyers 
  1. Spain
  2. USA
  3. France
  4. Italy
  5. United Arab Emirates
  6. Canada
  7. Portugal
  8. New Zealand
  9. Australia
  10. Ireland

Halo Financial has published a series of free guides on the key steps needed to buy property overseas safely and successfully – including tips on budgeting and saving money wherever possible.

For more information, infographics and the latest currency insights, visit www.halofinancial.com/news