The conclusion to be drawn, however, is less obvious, because it is still difficult to assess what the effects of 'brexit' decision -of the UK to leave the EU, be but expected to impact the industry in some way Real estate activity generated by this group in Spain.
But first the data: in 2015, as is happening throughout the historical series, the British led home purchases by foreigners in Spain, with 21.34% of the total, which already was a remarkable strengthening relative to 2014, when they counted with a weight of 16.72%, the data include the College of Property Registrars.
That trend continued in the first quarter of this year -last available- official data. The favorable evolution of the pound against the euro over the past year may have been one of the factors that have contributed to this growth, the annual report highlights registrars. Surely it is the largest nationality contribution in housing demand in Spain.
The possible absence of the British market as a result of 'brexit' can be noticed. The 'brexit' leads to the UK to an economic recession, which devalue the pound and all this, in turn, erode the purchasing power of its citizens. This will certainly affect the British demand. However, as in the past we have experienced a very similar scenario. For example, in 2009 the British economy fell sharply but the same year the British led home purchases by foreigners in Spain (the 31.49%), according to the latest yearbook of Registrars.
Another aspect to consider is that the declining purchasing power of the British impact, to some extent, the properties of a smaller amount, while it will be very light in the homes of higher prices.
A recent report in the UK says that the number of British citizens who want to leave the country has increased by 30%, Spain is the third destination of interest today, after Australia and Canada. Another study by the London School of Economics indicates that about 10% of young people between 18 and 25 years who voted to stay in the EU consider the possibility of living in another country.
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