Brexit and the Day After… in Spain
So the dust has now settled on an intriguing, albeit sometimes fraught, referendum in Britain and the people have given their verdict: a fairly conclusive “leave” the European Union. The next question for Britons living in Spain or owning or considering buying a holiday home here is, how will this affect their official status and other key lifestyle issues.
The jury is still out on that one, with opinions – both from industry experts and people in the street – varying widely, from relatively sanguine to deeply concerned. It is clear there will be repercussions, with some uncertainty over the next two years as the “leave” process is negotiated and implemented. In the meantime, however, the clear message for British expats, holidaymakers, homebuyers and sellers has been a universal, “Stay calm”.
With so much on the line for both countries economically, with such longstanding links, and with the ongoing appeal of a Spanish resort area that offers superb lifestyle options, an incomparable climate, modern infrastructure, excellent transport connections and resilient security, it is extremely unlikely there will be serious upheaval either in the short or medium term.
In spite of the hesitancy leading up to the referendum (and beyond), Spain remains the most popular holiday destination for Brits outside of the UK, according to the Honda Holiday Habits Survey carried out by OnePoll, with 52 per cent having holidayed here, followed by France (40 per cent) and the USA (22 per cent).
Of course, that is not to say that people are not justified in giving pause to thought, as they contemplate such issues as residency and work rights, taxes, pensions, freedom of movement and health care. However, until the overall picture becomes clearer, the status quo effectively and reassuringly remains in place. We can be pretty confident the authorities on both sides, in the UK and EU, will be making every effort to limit any fallout.
As former Cabinet Secretary Lord O'Donnell told the BBC earlier this year, divorce can sometimes be painful but it doesn’t have to be messy. It’s all about sound planning, commonsense and learning how to live and trade together in a shrinking world.
In the meantime, if the Costa del Sol real estate market does experience some minor turbulence, the time could be just right now to snap up a bargain. Like the property featured here, priced at just €995,000 and one of the best-positioned duplex penthouses in the exclusive White Pearl Beach complex in Elviria (Marbella).
Finally, a splendidly inspiring and considerably less discordant event that occurred earlier this week... On the latest stage of its pioneering round-the-world flight, Solar Impulse 2 landed in Sevilla after a flight of three days and three nights (71 hours and eight minutes) from New York without fuel, completing the crossing of the Atlantic Ocean with several world records. The transatlantic flight covered a distance of 6,765 kilometres powered only by the sun, “confirming Solar Impulse’s vision that clean technologies and renewable energy can achieve the impossible”.
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Solar Impulse 2[/caption]
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