Articles

For many retirees, Spain is a very desirable country to settle in. The warm weather, a relaxed way of life and a more affordable way of living make life on the Costas sound appealing. However, it is not all plain sailing. It is highly likely that, for those retiring to Spain, they will also purchase a Spanish home in conjunction with the move. In this instance, it is important that you engage an independent Spanish lawyer to advise you in relation to the transaction.

Before you make the move, there are a number of factors to consider. For those purchasing a Spanish home there will be costs to consider in relation to property ownership, as well as tax implications. In addition to this, the potential impact that Brexit may have is also cause for consideration. We will set out in this article the issues mentioned above.

To quote the great Robert Burns, there is no such uncertainty as a sure thing.  This sets the tone for a discussion of how things may change for Brits in respect of living, working and owning property in Spain after Brexit.  We have covered the subject of Brexit in detail at various points since the referendum result in 2016 and for a long time "no change" was the mantra.  Now that we are officially in the transition period, which comes to an end at the end of this year, we have reviewed what has changed and what has not, as well as what is likely to change for Brits when the transition period comes to an end.  

Fortunately, over the course of the past seven years the development of the succession and tax rules applicable to Spanish estates favours UK nationals, in both a leave and remain scenario, whether in respect of the UK remaining in the EU, or Scotland remaining in the UK. The administration of the Spanish elements of a Scots estate need not be complex, provided it is approached logically and methodically, like any other aspect of a death estate.

The Camposol development in Murcia, Spain, is an area known to have been plagued by difficulties during the build and in its early years.  As the situation has improved and stabilised British buyers have been tempted by the plentiful supply of property at reasonable prices and so we are seeing more buyers keen to purchase a place in Camposol.  

As with any property purchase in Spain, early independent advice is the key to making a successful purchase.  However, there are some issues peculiar to the Camposol development that it is important you are aware of before taking the plunge.