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Brexit
Posted: Mon Feb 6, 2017 6:10pm
Hi I'm thinking of relocating to the Costa blanc and will shortly looking for a property,how will the Brexit effect me & am I better off longterm renting.
Thx
Posted: Tue Feb 7, 2017 4:23am
Legendary helpful member
That's a question we're all asking, and nobody knows the answer. If you look at the 'expert' opinions, they all vary.
The exchange rate plummeted after the referendum, and could be a long time recovering - if it ever does - so in that sense it's a bad time to buy if you think it will eventually recover.
On the other hand (typical economist's comment!) property prices are low, so it could be a good time to buy. Regarding property, in some popular areas, property prices are showing some signs of recovery, but the banks are sitting on such a large stock of property that it will take a long time for them to sell this, so prices could stay depressed for a long time.
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