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Will the British still look to move overseas?

19/07/2016

The UK’s relationship with the EU: different but the same

The UK is unlikely to leave the EU altogether. It is much more likely to join the EEA (European Economic Area), which allows free trade but stipulates free movement of people, so the steady stream of Brits looking to buy their dream house abroad looks set to continue.

Will the British still look to move overseas?

Yes. In fact, a number of our clients have told us that with all the negativity surrounding the UK with the Brexit, collapse in the political system, shocking football results and the terrible weather, they are more determined than ever to leave the UK and make their dream move overseas!

The feedback we've received from clients has been noticeable positive, those out viewing properties appear resilient to the news despite uncertainty and a fall in Sterlings value. However current exchange rates are still favourable considering that we are trading just below the 10-year average of 1.25.

If your clients are serious about buying in Europe, current circumstances should not be a barrier to their decision. Until Article 50 is invoked and the UK official withdraw from the EU, all existing arrangements will remain intact.

There has been a huge increase in client activity due to the volatility over the past few weeks and a ten-fold increase in visits to our websites. Our opinion before the referendum was that the number of Brits buying overseas would remain stable and the vote to leave the EU has not changed our stance.

British clients selling property will get more Pounds for their Euros

Currently we are seeing the best opportunity for clients selling Euros and moving back to the UK in over 2 ½ years! The good news for your clients is that their property is now worth 14% more than it was at the beginning of 2016, and they haven’t had to do anything to achieve it! For example, the sale of a €200,000 property on January 1st would have returned £147,088. Now it would be worth nearly £171,000 – a gain of almost £25,000.

So, if you have been having any issues selling a property or negotiating a realistic sale price with a client, even a reduction in the price by €20,000 would still offer your client more Pounds than 6 months ago.