Now that the United Kingdom has decided in referendum that want to leave the European Union, doubts about commercial transactions between countries begin to emerge. Conveyancing after Brexit sounds pretty risky but today we’re going to dedicate a few words to clarify what is going to happen and what to expect.
Conveyancing after Brexit
Buying a property in Spain now sounds at least, risky. With the pound lowering its price quotation, some may think is a bad moment to buy a property. Right now the markets are fluctuating due the Brexit, and investors doesn’t want to risk their money in a volatile investment, but there are some facts we can talk about.
The pound has lowered its quotation, yes, but mainly with the U.S. dollar. With values from 1985, the pair British Pound – U.S. Dollar is really low. But with the Euro the situation is very different. Now 1 Euro represents 0,85 British Pounds, a price like seen in later 2013, witch is a very similar price. Now conveyancing after Brexit doesn’t sound that crazy, Am I right?
Its the right moment
Yes it is. Not only because the pound’s value is very similar as seen in the last couple years, but due a very low demand for conveyancing in Spain, the real estate is low right now. So three factors to watch at: First of all, conveyancing after Brexit is still cheap now, with a process that will take about 2 years to accomplish, buying now is still buying being from the UE. The second one is the price, very close to it’s regular value, buying euros with pounds is cheap. And finally, the market in Spain is, for the moment, on a very low price due low demand. Maybe is the moment to buy a property in Spain, maybe conveyancing after the Brexit is not a bad idea, but a great investment.
If you have any doubts you want to be resolved, feel free to contact us, we’ll advise you wisely so you make the right decision. We remain at your disposal.