According to data from the property portal Kyero.com, there is an increased interest of Britons to relocate to Spain and Portugal to avoid a winter of discontent at home.
In its recent announcement, the overseas property portal Kyero.com has seen an increase in demand for Portuguese and Spanish property this year. In the three months leading up to September, inquiries increased by 16% and 26%, respectively, in Spain and Portugal, compared to the same period last year.
According to Kyero creator Louise Dell, this isn’t just due to pent-up demand following last year’s Covid lockdowns.
Property inquiries in Spain are also up 10% compared to statistics from two years ago, while in Portugal they are up 55%.
Brexit, according to Dell, is not deterring sun-seeking Britons. “Mediterranean hotspots continue to draw significant and growing attention.” “Amid the British winter of discontent, with high energy bills, petrol shortages, and unpredictable weather,” she continued, “an increasing number of people are realising their ambitions to relocate to Spain.” According to Kyero’s research, three-quarters of Britons want to relocate to Spain for better weather, while one-sixth wants to relocate to Spain for lower living costs.
According to Dell, obtaining EU residency has become more difficult as a result of Brexit, but British buyers are undeterred.
After the UK exits the EU on January 1, 2021, British citizens become third-country nationals and are limited to 90 days in any 180-day period in any country within the EU’s border-free Schengen Area.
Longer stays are therefore more difficult, though Dell stated that Brits that want to relocate to Spain can apply for a non-lucrative residency visa.
Under the non-lucrative visa regime, non-EU citizens are permitted to live and relocate to Spain, but they are not permitted to engage in any commercial or professional activities.
British citizens may also apply for a Golden Visa if they can afford to buy a home in Spain for at least €500,000 (£425,000). According to Dell, this is the only way to obtain the right to live in Spain quickly.
Britons who want to move to the EU on a non-lucrative visa must show that they and their dependents are not a financial burden on the state.