Telegraph article on Britons leaving Spain, losing a bundle

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This topic contains 3 replies, has 4 voices, and was last updated by Profile photo of angie angie 2 years, 7 months ago.

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  • #58002
    Profile photo of Anonymous
    Anonymous
    Participant

    ‘Our €250,000 Spanish villa sold for just €87,000’
    http://www.telegraph.co.uk/finance/personalfinance/expat-money/10792602/Our-250000-Spanish-villa-sold-for-just-87000.html

    It’s nothing new but it’s bad news anyway.

    Also, this is quite an interesting chart from that article:

  • #119498
    Profile photo of GarySFBCN
    GarySFBCN
    Participant

    That article is misleading. There’s no indication of what the couple paid for that villa in 1999. It appears that the €250,000 was their asking-price and they somehow consider it a loss that they got less.

    Also, the article repeats the ‘fact’ that 90,000 ‘Britons’ have left Spain. 90,000 fewer have registered in Spain, which could be due to tax law changes. But do we really know that they’ve left Spain?

  • #119500
    Profile photo of Anonymous
    Anonymous
    Participant

    Correct Gary – I am sure there are many who will return as Non Resident owners or will return when they have secured the hard earned equity in their UK homes, I think Mark should write an article to dispel this gloom.

  • #119502
    Profile photo of angie
    angie
    Spectator

    A lot of Brits who leave Spain initially retired there in their 50’s and 60’s, and it’s well known that many return to Blighty later on in life for family reasons, ie they miss children and grandchildren, plus others want nursing home accommodation in the UK.

    We are visiting friends near Malaga later this month, and they’ve noticed that several British they rely on for building jobs in particular have also returned because they can’t find enough work now to finance their lifestyle since they don’t receive pensions, and it is this group which has seen larger numbers return for work. However several have not sold their Spanish properties yet, if they recoup monies in UK they will return to Spain, but if things don’t work out then they intend to sell. They are forced to go back but are keeping their options open also 🙄

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