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Focus on the bigger picture as uncertainty marks the lead-up to Brexit vote

THE international Spanish property market is now certainly feeling the Brexit effects, writes Campbell Ferguson.

Agents, lawyers and surveyors are noticing that potential buyers and clients are putting off their commitment to purchase until after the result.

FX companies are reputedly expecting a 20% drop in value of the pound against the US dollar if Britain does leave.

It will be large against the euro too, though the EU will have such problems with the UK’s pending departure that the euro could fall just as steeply.

And it will continue to be uncertain for a further two years as apparently there is a ‘cooling off’ period for negotiation, after a decision has been made, during which there is the possibility of any decision being reversed and the UK being ‘permitted’ to stay in.

Can any benefits be worth all that hassle? Some obviously believe so and, as I write, the certainty of the vote deciding to leave, based upon betting money placed, has risen from 15% to 25%. Continue reading

In or Out? We will know on Friday.

On Friday moBrexit2-300x250rning we will awake to the results of European Union Referendum and as the dust settles the big question on everyone’s mind will be ‘do we still have a United Kingdom?’

If the result favour the Leave camp and the polling data is correct predicting Scotland as a country will vote to remain, will they object to being taken out the EU against their will? This is just one of the many unanswered questions from the leave camp.

One thing is clear – no matter the outcome on Friday morning the political landscape in the UK will be changed forever.

I’ll be joining Talk Radio Europe today at noon in their EU Referendum coverage. Listen live www.talkradioeurope.com

I’ve also contributed to this week’s Olive Press Brexit Feature – read online at www.theolivepress.com

Triple threat for supply and demand in Spain’s property market.

Brexit isn’t the only thing causing concern for those looking for property in Spain. There are three items in the news now that are affecting demand and supply in the property market here.

Brexit and the Euro/Sterling exchange rate is the obvious one, the doubts as to the result and its fallout are causing UK buyers and sellers to hesitate.

In addition, the fall in the value of sterling, from the 1.40s to 1.20s/euro in the last three months has made the relative costs of property here much more expensive for UK buyers, but of course better for those wanting to repatriate to UK.

However, the latter will be concerned that there is more reduction in value to come and so may decide to hold onto euro assets until closer to the referendum in the UK on June 23. Continue reading

Referendum fever

Brexit2-300x250EVERYBODY is getting awfully excited about the possibility of the UK referendum in June returning a Brexit result.

Decision day is three-and-a-half months away so there’s going to be a huge amount written about it in that time, both informative and scaremongering.

For householders here, all we can do is play the waiting game.

There doesn’t appear to be any informative planning so far, so there is really little that can be done unless one assumes that there is going to be an exit.

My own opinion is that exit is unlikely, although many will not let the facts get in the way of their decision. Continue reading