Spanish property buyers focus on green second homes as Malaga gets first National Park

Spanish property buyers focus on green second homes as Malaga gets first National Park

by Louise Spain ,
  • Sierra de las Nieves to become Spain’s 16th National Park later this year
  • Designation includes strict environmental protections
  • Taylor Wimpey España reports uptick in interest in greener homes

Later this year, Spain’s Malaga province will finally get its first National Park, after six years of campaigning. Sierra de las Nieves, the mountainous area north of Marbella and east of Ronda, will enjoy increased funding and stricter environmental protections as a result of the decision.

Sierra de las Nieves has been a protected national park since 1989 and a UNESCO Biosphere Reserve since 1995. It is home to the largest collection of pinsapo trees in existence, along with an abundance of largely untouched flora and fauna, with some of the trees thought to be over 500 years old. Bird spotters who visit the park can enjoy sightings of golden eagles, griffon vultures, peregrine falcons and many more species, while ibex, wild cats, mouflon and roe deer roam the steep slopes.

Connecting with nature has rarely felt so important as it has over the past year, with lockdown restrictions confining so many people to the inside of their homes. Likewise, exercise has becoming something to be valued even more than normal. With cycling, hiking, horse-riding, kayaking, climbing, abseiling, potholing and canyoning all available in Sierra de las Nieves, those visiting the resorts of the Costa del Sol will have easy access to all the nature and exercise they could possibly wish for.

“Many visitors and locals alike have long enjoyed the rich eco-diversity of Sierra de las Nieves. Now, the profile-raising nature of the National Park designation, along with the funding that comes with it, means that many more families will benefit from this incredible natural resource. The development of sustainable tourism activities will ensure the area is well protected, which is incredibly important for the future of Sierra de las Nieves.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Both tourists and second home owners are increasingly conscious of the need for greater sustainability, according to leading Spanish home builder Taylor Wimpey España. Concern for the environment is being reflected in the questions that buyers are asking as part of the purchase process.

Taylor Wimpey España has long been included environmentally friendly features in its developments. Its properties at the prestigious La Cala Golf resort, located just over an hour from Sierra de las Nieves, include several such features. One example is their electric water heaters, which use energy saving systems and source their hot water through thermal solar energy. Double glazed windows also help to make the homes more energy efficient.

The properties also deliver the chance to reconnect with nature. The low-density construction and quiet location of the key-ready homes at Sun Valley, for example, are ideal for those looking for a greenery-surrounded retreat. Available from €251,000 plus VAT, the southwest-facing homes offer stunning golf view from their ample terraces. In addition to golf, owners can enjoy the on-site tennis facilities, as well as an array of water sports at the stunning beaches just 7 km away.

The off-plan apartments available at Harmony, also on the La Cala Golf site, will also make the most of the natural surroundings and spectacular scenery, with views taking in the golf course, mountains and sea in a single vista. Priced from €295,000 plus VAT, the homes are being built in accordance with the new Technical Building Code (CTE). This means that they are ahead of the market in terms of delivering some of the highest levels of energy efficiency and thermal and acoustic insulation. The property has achieved Energy Certification B, as does Sun Valley (this obligatory certification ranges from A for the most energy efficient homes to G for the least).

“Features such as energy efficiency, solar energy and thermal insulation are no longer ‘nice to haves’ – they are a core part of what many buyers are seeking. We are delighted to be developing homes that adhere to such high standards in this respect.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK you will need to call 00 34 971 706 972.

All is not lost for owners of ‘illegal’ properties in Spain

All is not lost for owners of ‘illegal’ properties in Spain

by Louise Spain
  • CostaLuz Lawyers highlights potential to take action against banks
  • ‘Illegal’ property owners can claim for refund of off-plan deposit
  • Claims not subject to December 2020 deadline that applied to many other owners

The Spanish property experts at CostaLuz Lawyers have reached out to owners of ‘illegal’ properties in Spain to reassure them that all is not lost. The team has highlighted the potential for owners of these properties to make a claim against their developer’s bank for a refund of their off-plan deposit. Not only that, but if the buyer subrogated the developer’s mortgage, they can also claim for all mortgage repayments.

Action can be taken against liable banks under Law 57/1968, with no deadline in place for making such claims, yet few of those impacted are aware of the full extent of their right to a refund.

An illegal Spanish property is one that did not have the proper planning permission, building licences or other paperwork in place at the time the client paid their off-plan deposit. Many buyers moved into such properties following the building boom of the early to mid-2000s, either paying for them in full or taking on large mortgages. These buyers now have recourse to legal action to reclaim the deposits that they paid – along with interest and legal fees.

“We’ve been hugely successful in winning back some €25 million for Spanish property buyers who lost deposits to developers who went bust. The deadline for such claims under Law 57/1968 was 28 December 2020. However, claims for the return of off-plan deposits paid on illegal properties, and for mortgage payments where the buyer subrogated the developer’s mortgage, are not subject to this deadline; they’re not subject to any deadline at all.”

Keith Rule, www.costaluzlawyers.com

Owners can claim against the developer’s bank or insurer for a refund of any deposit that they paid prior to the legally required paperwork being in place. This applies even when no contract exists, as the Spanish Supreme Court has deemed that lack of consent means no time-barring can be applied.

Despite many of those who are eligible to claim having purchased their properties 15+ years ago, it was 2013 before the Supreme Court stated that ‘finishing’ a property means not just building it but also having all of the legal paperwork in place. And it wasn’t until 2016 that the court clarified that planning illegalities were a matter that fell under the purview of Law 57/68.

“There is clear case law to support the claiming of refunds of deposits paid on illegal properties and in some instances of mortgage repayments as well. The Spanish justice system can move slowly but this doesn’t mean that it is not worth pursuing a case. The return of a deposit, along with 15+ years’ worth of interest, can equate to a lump sum that feels well worth the wait.”

Keith Rule, www.costaluzlawyers.com

For more information, please contact CostaLuz Lawyers’ UK office on +44 1908 635 111 and speak with Keith. To speak with Maria in the Spanish office, call +34 956 092 687 or you can visit www.costaluzlawyers.es

Hold on tight to the UK rental sector roller-coaster

Hold on tight to the UK rental sector roller-coaster

by Louise United Kingdom
  • Housing Hand’s figures highlight notable shifts in student rental market
  • Furloughed/unemployed parents turning to rental guarantor services for their offspring
  • Housing Hand records surprising 8% jump in international working professionals
  • Figures point to continuing volatility of private rented sector

Newly released data from UK rental guarantor service Housing Hand has highlighted the volatility currently being experienced across the UK’s private rented sector. The company acts as a rental guarantor for students and working professionals and has seen significant shifts in demand for its services over the period from November 2019 to November 2020.

Demand for rental guarantor services for students was notable for a number of reasons. While there was an overall increase in the number of students that Housing Hand guaranteed over the period, there was a drop-off in international students.

“The fall in demand from international students aligns with wider data trends across the industry. Between travel restrictions, lockdowns, a shift to online learning and Brexit, international appetite for UK higher education has been impacted significantly. This is why we’re seeing such low occupancy rates in London for purpose-built student accommodation right now. It will be interesting to see the impact that all of this will have on the January intake.”

Jeremy Robinson, Group Managing Director, Housing Hand

Student rent strikes across the UK are also feeding into this volatility. However, despite the unrest, Housing Hand recorded a 12% increase in the number of UK students using its service. The lower grade boundaries offered by universities following the UK’s A Level grading controversy in August 2020 has played a part in this.

It’s also likely that many parents and guardians who are currently on furlough or unemployed are now turning to Housing Hand to secure their properties. Even those still currently in employment may wish to avoid acting as guarantors themselves, in case that situation suddenly changes.

Nor is it just the student part of the private rented sector that is experiencing shifts in renter patterns. Housing Hand recorded a surprise increase of 8% in the number of international working professionals that it guaranteed between 2019 and 2020, despite the uncertainty surrounding Brexit and the Covid-19 pandemic.

“The growth in demand for rental guarantor services by working professionals from overseas flies in the face of what we were expecting to see. It highlights the continuing diversity of the UK workforce, despite the wider political, economic and medical situation. During 2021, hopefully this will continue; however, the first three weeks of the year have shown a slow start, so watch this space.”

Terry Mason, Group Operations Director, Housing Hand

Even with mass vaccination underway, the impact of the Covid-19 pandemic is likely to be felt across much of the UK’s private rented sector over the course of 2021. Economic uncertainty means that many of those in the UK are seeking the reassurance that a professional guarantor service provides, rather than the risks associated with a parental guarantor.

“From a landlord’s perspective, rental guarantor services mitigate the increased risk that is now associated with parental guarantors. Just as many renters may be facing personal economic uncertainty, so too are their parents. This is why professional guarantor solutions are so prized by landlords and letting agents right now.”

Terry Mason, Group Operations Director, Housing Hand

For more information please contact Housing Hand today on +44 (0) 207 205 2625 or visit https://www.housinghand.co.uk/

Buy-to-let 2021 – what will Covid and Brexit mean for the market?

Buy-to-let 2021 – what will Covid and Brexit mean for the market?

by Louise United Kingdom
  • Fabrik Invest looks at the likely effect of Covid and Brexit on the buy-to-let market
  • 41,700 buy-to-let companies set up in 2020 (Hamptons)
  • Bank of England looking into potential of history-making negative interest rate

2021 is shaping up to be a big year of the UK buy-to-let sector. Huge, in fact. Hamptons has just reported a record number of new limited companies incorporated in 2020 with the specific purpose of holding buy-to-let properties. 41,700 such companies were incorporated in 2020, meaning that the number of them has doubled since 2016, when the government began ramping up the tax burden faced by buy-to-let investors.

So, will Covid and Brexit combine to finally dent interest in UK buy-to-let investments, when even the prospect of paying more tax hasn’t deterred investors? Unlikely, says Dale Anderson, Managing Director of Fabrik Invest.

“The UK remains a promising and active market for fully managed buy-to-let properties. The country has a fundamental lack of supply and that’s unlikely to change; we simply can’t build homes fast enough. For overseas investors, Brexit actually presents potential for savings, as currency exchange rates fluctuate. Add to that the fact that Covid is bringing about opportunities such as discounted deals and suddenly 2021 is shaping up to be a huge year for the buy-to-let sector.”

Dale Anderson, Managing Director, Fabrik Invest

Fabrik Invest flags up buyers from the Middle East, Hong Kong and South Africa in particular when it comes to key investor demographics overseas this year. The company also points to the impact of interest rates and fiscal policy on the 2021 buy-to-let sector.

At present, interest rates remain at the historic low of 0.1%. Not only that, but the Bank of England’s Monetary Policy Committee has been openly looking at the potential impact of a negative rate since June 2020. Such a move would be the first time in history that the UK has had a negative interest rate and would be excellent news for borrowers. Even without a further reduction, the current low makes mortgage borrowing in 2021 an attractive prospect.

“With borrowing rates at a record low, now is an excellent time to invest in property. The government is printing another £150 billion due to the pandemic – a move that will catch up with it eventually. It carries with it the potential for the currency to devalue and inflation to rise, meaning that tangible assets such as bricks and mortar carry an even more reassuring degree of safety than usual.”

Dale Anderson, Managing Director, Fabrik Invest

So, where will investors be focusing during 2021? On regional markets mainly, based on Fabrik Invest’s insights. Michigan Towers, in the heart of the MediaCityUK site in Salford Quays, Manchester, epitomises this regional trend. The contemporary homes have been designed to suit working professionals who want everything on their doorstep, while benefitting from high quality interiors and impressive views.

Covid will come into play in this respect, as demand for apartments with communal gardens, rooftop terraces and innovative home-working spaces continues to increase.

“We saw a push towards a more rural way of life as the pandemic took the nation in its grip in 2020. However, mass vaccinations over the course of 2021 are likely to drive a resurgence of confidence in the urban lifestyle, with people finally able to enjoy the UK’s cities to the full once more. This is why so many or our investors are seeking apartments right now, rather than lower-yielding houses. It’s yet another factor that is underpinning the success of the buy-to-let market in 2021.”

Dale Anderson, Managing Director, Fabrik Invest

For more information, please contact Fabrik Invest on 020 8175 9891 or enquiries@fabrikpropertygroup.com, or visit www.fabrikinvest.com

The rental market in lockdown 3.0 and beyond – what’s does 2021 have in store?

The rental market in lockdown 3.0 and beyond – what’s does 2021 have in store?

by Louise United Kingdom
  • Housing Hand looks at student and wider rental market for coming year
  • Brexit to compound impact of COVID-19 on landlords
  • Hope on horizon from 2022 onwards

2021 was viewed by many as a fresh start – a chance to move on from the myriad difficulties of 2020. Yet January brought more of the same almost immediately, with school closures and the strict implementation of lockdown 3.0. There’s been plenty of speculation about what this could mean for the UK’s property sales over the coming year, but what about the private rented sector?

UK rental guarantor service Housing Hand works with landlords and tenants across the UK, providing the company with plenty of insights into the difficulties that the sector is facing. According to Group Managing Director Jeremy Robinson, 2021 could be a bumpy year for the rental market.

“The pandemic has created a number of issues, ranging from tenants becoming unable to pay their rent to would-be renters experiencing difficulties during the referencing process. The latest lockdown and its subsequent economic impact have the potential to exacerbate these problems significantly.”

Jeremy Robinson, Group Managing Director, Housing Hand

And then there’s Brexit. COVID-related travel restrictions have largely eclipsed Brexit-related issues so far. However, the impact of changes to flows of workers and students into the UK from Europe will be increasingly felt over the course of 2021, according to Housing Hand’s Terry Mason.

“A large number of those who travel to the UK for work or study rent their homes privately while here. Landlords who serve that market are going to feel the impact of Brexit strongly this year.”

Terry Mason, Group Operations Director, Housing Hand

COVID comes into play as well for the student private rental market. Should universities deliver courses virtually rather than in-person come the start of the new academic year in September, there’s likely to be a significant impact on those who usually rent properties to students.

Thankfully, the news isn’t all doom and gloom. Rural areas and the Home Counties have enjoyed a surge in rental demand as tenants move out of London and other major cities and Housing Hand anticipates this trend continuing in 2021, as renters continue to drift out of urban areas as their current tenancies expire.

“Lockdown 3.0 will once again emphasise the benefits of renting larger properties with outside space. The Office for National Statistics reports that 21% of London’s households have no access to a garden, either private or shared. The lower cost of renting outside of the city means that a garden suddenly becomes much more affordable.”

Terry Mason, Group Operations Director, Housing Hand

A further glimmer of hope for landlords is that, while COVID has had a significant impact on the UK rental sector, there’s every reason to believe that a return to pre-pandemic normality will take place at some point once vaccinations reach the required levels. Hopes may not be too high for this to happen in 2021, and certainly not in time to mitigate the impact of lockdown 3.0, but there is a brighter future ahead eventually for both landlords and tenants.

For more information please contact Housing Hand today on +44 (0) 207 205 2625 or visit https://www.housinghand.co.uk/

UK interest in Spanish second homes up 39%

UK interest in Spanish second homes up 39%

by Louise Spain ,
  • UK-based visitors to Taylor Wimpey España website up 39% in first week of January
  • Demand ranging from key-ready homes to brand new off-plan launches
  • Would-be buyers using virtual tours to view their dream homes during lockdown

Interest in Spanish second homes continues to grow, as British families while away the lockdown hours perusing their options online. Leading Spanish home builder Taylor Wimpey España, which has a selection of brand new, key-ready homes available for buyers to enjoy in 2021, has reported continued growth in both web visits and leads.

UK visitors to the company’s website increased by 39% during the first week of 2021, when compared to the first week of 2020. Interest from other European countries is also on the up, with web visitors from Germany up 51% and those from Belgium up by 44%. Domestic visitors have increased too, with website visits from Spain up 15% on the year before.

Leads, meanwhile, were up 30% for the first week of January 2021, compared to those a year earlier.

“Unfortunately, both the UK and Germany are in lockdown right now, while Spain, France and a whole host of other countries have extensive restrictions in place. But that doesn’t mean that would-be buyers aren’t dreaming of owning a home in the sunshine. The appeal of Spain’s golf courses and expansive beaches is only emphasized by stay-at-home orders; families are itching to return to normality with a newfound zeal for travel and leisure time.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Taylor Wimpey España is delivering a range of properties, designed to suit a variety of tastes and budgets. The company has five new sites launching during the first half of 2021, as well as brand new, key-ready homes available in popular locations. Virtual tours of these have proven particularly popular. The tours are so thorough that some buyers have even bought during lockdown, without seeing the property in person.

Both mainland Spain and Mallorca continue to attract keen interest. The mixture of affordability and sunshine that the Costa Blanca delivers has long been a favourite with British buyers. At La Recoleta III, for example, key-ready apartments just metres from the sea are available from €180,000 plus VAT. The stunning location is complemented by garden areas, a generously sized pool and practical touches ranging from underground parking that is accessible by lift to handy storage rooms.

Mallorca, though unable to rival the Costa Blanca in terms of affordability, certainly gives it a run for its money in terms of stunning scenery, sporting facilities and local gastronomy, not to mention abundant sunshine. The island has been a key area of focus for Taylor Wimpey España for some time. Available properties range from stunning first line apartments – such as those at Blue Cove – to contemporary villas offering spacious living indoor and out at Las Villas de Dalt de Sa Rapita.

“We are delighted that interest in Spanish second homes has grown so considerably over the past year, despite the many challenges that the pandemic has delivered. Being able to travel freely and enjoy unrestricted second home ownership is going to feel so incredibly welcome after the events of 2020. By continuing to deliver thoughtfully designed homes in prized locations, we will ensure that there is no disruption on the supply side as demand increases over the course of 2021.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK you will need to call 00 34 971 706 972.

BREAKING NEWS! Spain allows British expats to apply for residency post-Brexit

BREAKING NEWS! Spain allows British expats to apply for residency post-Brexit

by Louise Spain
  • Brits who missed TIE residency document application deadline can still apply
  • CostaLuz Lawyers highlights positive implications of the decision
  • Those with family links in Spain may also be able to apply for residency

Brexit may be well and truly done, but British citizens residing in Spain who have yet to complete the necessary paperwork have just been thrown a lifeline by the Spanish authorities. The government has announced that those who can prove they lived in Spain prior to 31 December 2020 may still apply for residency there.

Immigration officials have been instructed to follow the same procedure as they did for those applying for residency before the December deadline, though with particular attention paid to documentation that proves the individuals’ residency pre-dated the end of 2020.

Keith Rule of pioneering law firm CostaLuz Lawyers comments:

“This is excellent news for UK citizens who, for whatever reason, have yet to make their residency in Spain official. They can now apply for the TIE residency document without fear of reprisals or penalties for having missed the 31 December 2020 deadline. The move is a key signal of the value that Spain places on its long-standing relationship with the UK and a positive indicator for post-Brexit relations.”

The Spanish guidance states that British citizens arriving in Spain as of 1 January 2021 can also apply for residency in certain situations, such as if they have a family link with a beneficiary of the Withdrawal Agreement.

“All of this spells good news for a close relationship between Spain and the UK over the coming years,” continues CostaLuz Lawyers’ Keith Rule. “There are hundreds of thousands of British expats living in Spain, while some 18 million Brits spend their holidays here each year. Making it easier for residents to obtain the TIE, despite missing the deadline, should be well received by both expats here in Spain and policymakers back home in the UK.”

For more information, please contact CostaLuz Lawyers’ UK office on +44 1908 635 111 and speak with Keith. To speak with Maria in the Spanish office, call +34 956 092 687 or you can visit www.costaluzlawyers.es

Fabrik Invest reveals top 2021 UK buy-to-let hotspots

Fabrik Invest reveals top 2021 UK buy-to-let hotspots

by Louise United Kingdom
  • Up-and-coming cities rubbing shoulders with established hotspots
  • Ideal investment opportunities flagged up in five key locations
  • Manchester crowned as top investment destination for 2021

The UK’s buy-to-let market could be in for a bumper year in 2021, according to property investment company Fabrik Invest. The news comes as the 2019-20 English Housing Survey confirms that the private rented sector continues to house 19% of England’s households – some 4.4 million households.

Fabrik Invest has begun 2021 by revealing its top buy-to-let hotspots for the year ahead, while sharing projections on the shape of the market over the course of the year.  

“The Stamp Duty deadline, Brexit and COVID are going to create some interesting conditions for the UK’s property investment market in 2021. Underpinning all of these is the country’s continued shortfall of housing supply, which creates an inviting marketplace for investors looking to pick up rental properties this year.”

Dale Anderson, Managing Director, Fabrik Invest

The rush to beat the 31 March Stamp Duty deadline has seen buyers in all areas of the market racing to complete. While a drop off in transactions is inevitable following the end of the holiday, the UK’s fundamental shortage of homes means that the buy-to-let market will remain buoyant, according to Fabrik Invest.

Not only that, but currency fluctuations resulting from Brexit could result in some significant overseas interest in UK property investment as the year unfolds.

“If the pound falls as a result of the UK parting ways with the EU, we’re likely to see a surge in investment from overseas buyers looking to take advantage of suddenly being able to get more for their money. The UK remains a preferred investment destination for buyers from a wide range of other countries, many of whom will be keeping a close watch on exchange rates throughout 2021.”

Dale Anderson, Managing Director, Fabrik Invest

Having reviewed a wide range of market factors, the Fabrik Invest team has identified five key locations that should be on savvy investors’ radars in 2021. Manchester tops the table as a result of its rapidly rising property prices and rents and strong long-term prospects. The huge MediaCityUK development makes Salford Quays the area to watch.

Regeneration schemes are also at the heart of the city of Preston’s appeal. The Preston City Deal is overseeing the investment of £434 million into local transport infrastructure and public realm, while major regeneration is also underway in the Harris Quarter, Stoneygate and Preston’s new urban park. Ideally positioned to benefit from the works taking place next to it, Bishopgate Gardens is a luxury development of 130 apartments in Preston city centre. The one, two and three-bedroom homes come with exceptional communal spaces, while ground-floor retail units add neighbourhood appeal. It is this kind of flagship development, which serves to offer a new standard of living in the city, that Fabrik Invest believes will be at the forefront of investors’ minds in 2021.

Another top location to watch is York – a firm favourite with everyone from investors to owner occupiers seeking out a city with charm. The Yorkshire and the Humber region is projected to outperform the UK average for house price rises over the coming five years, while the city’s tourism sector also comes into play.

“Investors looking for a more flexible buy-to-let investment have some interesting options open to them in 2021. In York, for example, apartments at Icona can serve not only as long-term rental investments but also as Airbnb/short-term lets. This provides investors with a welcome degree of choice in order to respond to shifting market conditions.”

Dale Anderson, Managing Director, Fabrik Invest

Birmingham is another destination that warrants keen attention, thanks to its shortfall of over 30,000 homes by 2031. In particular, the city’s most fashionable location – the Jewellery Quarter – will deliver some exciting investment opportunities this year.

Fabrik Invest’s final 2021 buy-to-let investment hotspot is Chatham. This kind of London commuter belt location serves the COVID-spawned desire for more space both inside and out, at prices that are significantly more affordable than those in the capital (both for investors and renters). Substantial local regeneration, swift train journeys into central London and a rapidly growing population combine to make this a must-watch hotspot in 2021.

For more information, please contact Fabrik Invest on 020 8175 9891 or enquiries@fabrikpropertygroup.com, or visit www.fabrikinvest.com

Rising enquiries signal renewed confidence in Spanish second homes as dust settles on Brexit deal

Rising enquiries signal renewed confidence in Spanish second homes as dust settles on Brexit deal

by Louise Spain ,
  • Taylor Wimpey España reports 30% increase in leads
  • 2021 likely to see release of pent-up demand for second homes
  • Growth in home working leading to different ways of using holiday properties

As the dust settles on the UK’s last minute Brexit deal with the EU, it seems that Brits who have been keeping one eye on the potential of owning property in Spain are already swinging into action. Leading Spanish home builder Taylor Wimpey España has begun the new year with a flurry of enquiries from Britons interested in buying homes in Spain.

The firm has reported a 30% increase in leads in the first week of January 2021 when compared with the same period in 2020. In addition, website traffic from the UK is up 57% over the same timeframe.

And Brits aren’t only looking; just one working day into January, Taylor Wimpey España had already sold its first property of the year – to a British buyer.

While COVID remains at the forefront of many minds, the beginning of vaccination programmes across the globe means that there is room for cautious optimism for the travel industry as a whole over the course of 2021. As the world’s second most popular international tourism destination (based on World Bank data) this is particularly important for Spain.

Yet even without the added complication of COVID-19 thrown in, the UK’s departure from the EU was always going to impact the way that second homeowners use their holiday properties.

“We’ve seen buyers changing their expectations about how and when they plan to use their second homes. The events of 2020 have accelerated the pace of those changes – and 2021 will likely do so further – but those shifts in usage had already begun. One key trend, for example, is that buyers are now looking to use their second homes to work from, as well as for leisure purposes.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

The traditional two-week holiday is a thing of the past. The rise of freelancing and remote working had already opened many people’s eyes to the possibility of extended stays overseas, even before the pandemic. With more people now working remotely than ever, doing so for a couple of months somewhere sunny is much more realistic. Second home owners who may previously have used their home for a week or two here and there can now seriously consider alternating three months in the UK with two or three months in Spain.

Second home owner Philippe Codeville, for example, plans to spend four to five months of each year in his apartment at Grand View, at the Costa del Sol’s La Cala Golf Resort. With panoramic views of the golf course and the mountains of Mijas, plus an on-site communal pool and gardens, the sunny homes have proven popular with those looking to reconnect with nature and spend more time in the fresh air. For Philippe, the beauty of the location and the ability to be so close to the sea while still living somewhere calm were key factors behind his decision to buy at Grand View. Along with the chance to hone his golf skills, of course.

“Immersing yourself into an area for months at a time rather than weeks provides a wholly different experience of it. This is what many second home owners in Spain are now seeking – a greater connection with the country and its culture. Fewer trips mean fewer flights, as well, which is an increasingly important consideration for families seeking to reduce their carbon footprint. All of this is contributing to longer stays.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

For longer stays, the amenities available in the local area become more important. Grand View is an easy win in this respect. La Cala Resort delivers three 18-hole golf courses with Club House, Golf Academy and practice range, plus a hydrotherapy centre and spa, tennis courts, a running track, a gym with qualified trainers and a professional football pitch. The charming town of Mijas is just a few minutes’ drive away, while Marbella and Fuengirola meet the needs of even the most demanding of shoppers.

Just one key-ready property remains for sale at Grand View, priced at €314,000 plus VAT.

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK you will need to call 00 34 971 706 972.

Own a home in Spain? What will Brexit mean for you?

Own a home in Spain? What will Brexit mean for you?

by Louise Spain
  • Property law firm shares expert advice as deadline looms
  • Many British property owners seeking clarification on Brexit’s likely impact
  • Just days left for Britons in Spain to apply for residency

There’s been plenty of talk about how Brexit will impact Britons’ ability to go on holiday within the EU from 1 January 2021 onwards but what about those who own property there? Brexit tasks are, of course, ongoing, but in response to a wide range of queries from anxious British owners of property in Spain, the experts at CostaLuz Lawyers have shared their insights into what Brexit will and won’t affect, based on what we know so far.

“We’ve been responding to plenty of queries about residency over the course of this year but also about property ownership in Spain and how that is affected. As the Brexit deadline looms, many property owners’ concerns are increasing, so we wanted to share some detail about what the future holds in order to allay property owners’ concerns – and those of anyone looking to buy property in Spain in 2021 as well.”

Keith Rule, www.costaluzlawyers.com

Will the property purchase process change as a result of Brexit?

No. Britons who buy property in Spain will still have to follow the same purchase process.

I own property in Spain – will Brexit affect my rights as a homeowner?

No, it won’t.  Property rights are never linked to residency status.  All owners of property in Spain have the same rights and obligations, regardless of where they are from.

Are there any tax implications?

There aren’t any tax implications in relation to property ownership. However, the rate of non-resident income tax that British nationals have to pay will increase from 19% to 24% from 1 January 2021. This is because Spain, along with other EU countries, distinguishes between EEA and non-EEA nationals.

How long can I stay in my Spanish property after Brexit?

From 1 January 2021, rules regarding the length of your stay in Spain will change. You will no longer be allowed to stay for more than 90 days at a time in a 180-day period.

Note that the 90 days starts as soon as you enter the Schengen Area. This means that if you travel to Spain via France, for example, the time you spend in France counts towards your tally of 90 days.

What if I want to stay for longer – can I join two periods of 90 days?

No. At present you can only spend up to 90 days in Spain, then you must leave the country. You will then not be able to return to the Schengen Area until 180 days have passed since your date of entry into Spain (or elsewhere in the Schengen Area).

You can, however, divide the 90-day period into smaller chunks, for example by spending two periods of 45 days each in Spain.

Does the 90-day rule apply even if I own property in Spain?

Yes, it does. Spain may, of course, introduce new legislation to favour British property owners and allow them to spend longer periods of time in the country. However, at present the government has not announced any new rules.

Will Brexit affect my rights as a homeowner in Spain?

No. The UK’s decision to leave the EU does not affect homeownership rights in Spain. These will continue to be the same as they were prior to Brexit.

Will my NIE change when the UK leaves the EU?

No. Your NIE (foreigner’s identification number) is valid throughout your lifetime and does not change.

What if I am officially resident?

If you have a Spanish residence permit (known as the Tarjeta de Identidad Extranjero/TIE), your status falls under the Withdrawal Agreement set up between the UK and EU. This means your rights in Spain and the rest of the EU do not change after Brexit.

What if I live in Spain but am not officially resident?

In this case, you need to act fast. Very fast. You have until 31 December 2020 to apply for residency. If you don’t, you won’t enjoy the same benefits as other EU citizens in Spain.

Note that, on 4 July 2020, the Spanish authorities introduced a new residency card for British nationals in Spain. Known as the TIE (tarjeta de identidad de extranjero), the card expressly states that the holder is a beneficiary of the Withdrawal Agreement between the UK and the EU. It also confirms the holder’s right to live in Spain.

“There is bound to be a period of adjustment following 1 January 2021 for Britons who own property in Spain, particularly for those impacted by the 90-day rule. It’s important for property owners to stay abreast of any further developments over the course of 2021 (and beyond) to ensure that they are fully aware of their rights and obligations.”

Keith Rule, www.costaluzlawyers.com

For more information, please contact CostaLuz Lawyers’ UK office on +44 1908 635 111 and speak with Keith. To speak with Maria in the Spanish office, call +34 956 092 687 or you can visit www.costaluzlawyers.es