Buying property in Es Castell/Mahon

Questions relating to buying or owning a property. Moving to Menorca Sub-forum: moving to, or living and working on Menorca
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Beanface
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Buying property in Es Castell/Mahon

Post by Beanface » September 1st, 2019, 2:43 pm

Hi
My husband & I are thinking of buying an apartment in one of the above places, as a holiday home. We are apprehensive of the Brexit chaos that’s going on at the moment & probably wouldn’t be looking until 2020. We are aware of the 90 days in any 180 rule & the possibility of visas. Does anyone have any advice on how Brexit is being perceived on the island. Also the possible ‘pit falls’ of buying in the near future.TIA

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kieronf
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Re: Buying property in Es Castell/Mahon

Post by kieronf » September 2nd, 2019, 3:16 pm

People from countries outside the EU already own property and reside here, so post Brexit, whatever the arrangements for visas/duration of stay, your ability to purchase and acquire title to property will be the same as it is for those people. It can be done, the key is obtaining local and independent legal advice.

Property agents will tell you anything they think you want to hear about property prices post Brexit - some suggest the number of Brits owning property here will fall, but whether that manifests itself as a wholesale Brit sell-off and mass exodus (with low-price properties flooding the market) or the Number of Brits buying first-time falling off is unknown. There is no doubt that the number of Brits buying all property types is falling, however, there are willing buyers from other European nations queuing up to replace them, French and Germans in particular - and don't forget, they aren't troubled by fluctuating exchange rates.

Another major consideration at the moment is to make sure that whatever you buy has the all-important tourist licence - without one you can kiss goodbye to any chance of renting out your property.

Bottom line, find yourself a recommended local solicitor and take it from there.

Beanface
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Re: Buying property in Es Castell/Mahon

Post by Beanface » September 9th, 2019, 2:01 pm

Thank you very much for you reply. Food for thought!

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kieronf
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Re: Buying property in Es Castell/Mahon

Post by kieronf » September 9th, 2019, 9:07 pm

The best advice I can give is to sit down and work out what you want from life on the island. We holidayed in Son Bou for many years when our kids were tots - fantastic for 7 - 10 days, but would I want to live there all year - no. Once you get beyond the initial excitement of moving to the island, life has to go on and living somewhere in a resort where your neighbours change every week and their music is blaring all hours and their hire scooters are whining into the small hours isn't fun. The island is small, so wherever you live won't be far from a beach or a resort - so ask yourself if you need to live in one to enjoy it - plus many resorts are ghost towns in the off-season, nowhere to buy milk, bread or papers and nowhere to grab a coffee.

Don't look at this as a 52 week holiday, it isn't. Research thoroughly and ask away - the only stupid question is the one you didn't ask.

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