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Old 18.02.2016, 09:48
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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The unknowns for me are about things like property purchases. Not that I own any property outside the UK but I have often thought about buying a place in Spain or Germany. Would owners have the same protection as previously? Would there be punitive taxes?
I think not.

A great aunt of mine bought a house in Spain in the 1960s. At the time it was still quite an unusual thing to do, Spain was only just beginning to capitalize on tourism and infrastructure was very different. Furthermore, Franco was still in power, albeit getting a bit doddery and no longer in absolute control, but there were still restrictions on moving currency and lots of quaint rules and formalities on how to get things done. These rules were not specifically made to annoy foreigners as they applied to Spaniards too. Of course the up side to all that was that you could pick up prime beachfront land for ridiculously small sums and the people who did that back then later discovered they were sitting on properties worth multiple millions by the early 2000s, and still at least half of that today.

Today the biggest driver of the re-growth of the Spanish property market is from non EU buyers. Loads and loads of Russians are going in, but so are Arabs and Chinese to a lesser degree. So I don't think being non EU is a big deterrent or is hurting that market.

There are also lots of British expats who have houses in Morocco. Countries that depend on tourist dollars would be crazy to hit hard at tourists.
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