Good news for home owners and potential purchasers in Spain with the UK announcement of an Exemption to travel abroad to purchase, sale, letting or rental of residential property’ as well as a boost for the Spanish property market.
People will now be allowed to leave the UK to prepare a second home for sale or rent, according to new coronavirus regulations coming into force – potentially giving Spain a much needed housing transfer/sales/rental boost.
The move comes on the back of bombshell news of the prospect on UK holidaymakers possibly missing out on summer holidays to Spain, amid COVID-19 concerns.
The latest travel ban restrictions, which will apply from March 29, will include a list of specific ‘reasonable excuses to travel’ outside the UK.
Those activities include visiting an estate agent, developer sales office or show home, viewing residential properties to rent or buy, and preparing a property for moving in.
Keith Rule, UK Office Director of CostaLuz Lawyers, comments:
“It’s excellent news that British second home owners will be able to travel overseas once more from 29 March in connection with the purchase, sale, letting or rental of a residential property. With so many owners having been frustrated by their inability to travel, we expect to see a rush of activity within the sector. However, we urge second home owners, or those planning to purchase second homes, to continue to make decision with their heads, rather than their hearts, and not rush into anything without due consideration and independent legal and financial advice.”
Anyone who is caught breaking the rules on travelling abroad – by going on holiday from the UK – faces a fine of up to £5,000.