Housing sales to expats is plunging after UK voted for Brexit. The housing sales in the Alicante province has fallen by 75% in the lower and middle price range.
The president of the Real Estate Association Provia in Alicante, Antonio Fernández, spoke about the situation of the housing market during a conference on Brexit for businesses in the province of Alicante.
Although the sales are plummeting, the members of Provia insist that the demand for properties in Spain is just as great as before Brexit. Realtors are reporting a heavy demand from Britons at Spanish property fairs, but it appears that many customers are waiting to see outcome of the situation. Fernández believes that the sales will normalize once the customers have gotten over the shock after the referendum.