British expats in Alicante not bothered by Brexit

Published:  17 Jul at 6 PM
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In contrast with a number of media reports to the contrary, Brit expats living in Alicante seem to be not at all bothered by the possible outcome of Britain’s divorce from the EU.

According to the Madrid-based National Institute of Statistics, Alicante is home to Spain’s largest British expat community, at present holding some 73,000 mostly retired Britons living the sunshine life. Ever since the referendum result was announced, media reports have centred on the concern felt by UK expatriates in Europe as to Brexit’s effects on their preferred lifestyles, and protest groups have been set up in an attempt to encourage fair and just treatment for those affected.

In spite of the above, a recent article is claiming Alicante’s UK expatriates are not especially concerned about their futures once the UK is no longer in the EU. One Briton told the media he had no concerns as no-one really knows what’s going to happen as the two sides are talking, but nothing is being said.

Another Briton, a longterm resident in Spain and owner of a real estate agency, insists house prices are not dropping and there’s no panic amongst the British expat community. He adds selling prices of homes on the market haven’t changed, explaining that owners had bought when the exchange rate was 1.50 euros to the pound and have not altered their prices even though sterling has seen a 10 per cent fall.

The effects of Brexit, he believes, will not be seen until five to ten years have passed, saying that most expat residents are certain the EU and UK will agree a deal which doesn’t disrupt their lives. The same estate agent insists the exodus of British expats isn’t happening, although new buyers have changed their stance since last year.

The referendum, he says, is now being used by buyers to get a better deal on their chosen property, citing the uncertainly as a means to drive down asking prices. However, he notes that rental contracts are replacing property purchases across the region.
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