Brits ‘ditching plans to retire in sunny Spain amid fears Spanish government will punish expats by barring healthcare and pensions after Brexit’
FROM the Costa Brava to the Costa Blanca, Spain has long been the destination for millions of Brits eager to while away their golden years in the sun.
But a new report reveals the number of Brits over 55s inquiring about buying their dream property has flat-lined – because they fear how the Spanish government will treat them after Brexit.
Two years of Brexit talks are due to be kick-started later this month when Mrs May officially triggers Article 50.
But according to one of the biggest Spanish property websites, Kyero, the rush to buy in Spain among British older people is not what it was.
Millions appear to be waiting to see how Brexit will pan out.
In its , property firm Kyero reported a decline in growth in inquiries for Spanish properties on its website for the first time.
Kyero’s analysis found that while there was 36% more people checking out properties, sales leads have virtually dried up - with just a 1.5% growth compared to same period the year before.
MOST READ IN NEWS
Head of research Richard Spiegel said: “It means British buyers still want to buy, but they’re becoming less likely to progress their search to a viewing.
“Listening in on buyer chatter shows Article 50 is the obvious culprit.
“Brits are now in a holding pattern while they wait to see how Brexit negotiations progress.
“Arguably the group with the most to lose from Brexit are British pensioners, and we detected clear signs of their nervousness in the latest traffic demographics.”
Currently there is huge uncertainty among British pensioners on whether they will have the same access to health and pensions in Spain as they did while the UK was a EU member.
But Mr Spiegel said: “On balance we think the majority of British buyers will (at most) be mildly inconvenienced by Brexit, it’s unlikely to materially change travel access, property rights or availability of credit."
Yet while the Brits have been hesitating, Kyero statists show the rest of EU - including Germany - is keeping the market buoyant, with a 25% increase of sales leads in one year.
We pay for your stories! Do you have a story for The Sun Online news team? Email us at [email protected] or call 0207 782 4368