Brits looking to expatriate can now find property bargains

Sunnier climes and a better quality of life are the most often quoted reasons for leaving the UK.

Given that most would-be expatriates choose destinations high in sunshine, low in living expenses and superior as regards quality of life, has the pandemic caused the inclusion of other positives in order to balance the negatives of an upcoming world recession as well as the fear of infection? The majority of would-be British expatriates will have sold their UK homes with the intention of house purchase overseas, but will they be getting better bargains due to the pandemic?

For many Brits, the choice of a new country rests between familiar holiday spots in Italy, France, Spain or Portugal, all of which tick the required boxes and are familiar for newly-arrived refugees from the UK weather and political woes. Nowadays, it’s not as easy as it was before the Brexit referendum, but the pandemic has at least reduced the prices of suitable properties for the 10 thousand Brits searching the internet for emigration topics every month.

Tourism and travel aren’t the only sectors badly hit by the pandemic, with property prices all across Europe also taking a fall dependent on their governments’ strategies as regards negating the virus’s effects. Whilst the UK is still struggling, Malta, Portugal, Greece and Cyprus are far less affected than the UK and the Canaries and Balearics are practically virus-free, but price reductions across all EU member states are now temporarily in order. Acting swiftly is recommended, as no-one known what surprises the next 12 months have in store!

As the desire for change grows, the overseas property market is working as well as can be expected under the circumstances, with real estate agents and lawyers already back in their offices. Virtual property tours are the new kid on the block and are much appreciated by the new wave of buyers. Another reason for increased interest is that the end of the Brexit negotiations is creeping closer, with those able to purchase a property, move in and register as a resident having a far better chance of retaining at least some of their rights.