July 24

Brexit Reduces Britons’ Overseas Home Rentals


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According to data from the English Housing Survey, the number of English individuals owning second homes in Europe has experienced a decline once again. After analyzing the statistics, The Times reports that around 60,000 people in England possess second homes in France, in contrast to 89,000 in 2008.

Fewer than 30 per cent of second homes owned by individuals in England are situated in Europe. In 2012, four years prior to the EU Referendum, the proportion was 40 per cent.

The survey defines second homes as properties primarily used by owners or let out to others as holiday homes, or properties occupied by owners working away from home.

In recent years, following the UK’s departure from the EU, UK citizens lacking a visa are restricted to spending no more than 90 days in an EU country within any 180-day period.

Annette de Vries, a Dordogne-based estate agent, informed The Times that the added bureaucracy resulting from Brexit has discouraged numerous individuals from purchasing properties in France.


“Fewer British individuals are currently seeking houses compared to previous times, primarily due to the impact of Brexit. Purchasing property has become significantly more challenging for British citizens, as they now require health insurance, which poses considerable difficulties for them.”

The newspaper additionally quoted Brittany’s agent, Sylvie Mayer, who stated: “A significant number of Britons have departed the region. Since last summer, many have sold their second homes due to the increased complexity of paperwork, making it difficult for them to spend time here.”

However, the English Housing Survey reveals a rise in the popularity of purchasing second homes within the UK. Presently, 520,000 households possess second homes in the UK, a notable increase from 279,000 in 2008. The south-east and London emerge as the most appealing locations for second homes, closely followed by the Midlands and the east of England.

Areas like the south-east and London have become the top choices for acquiring second homes within the UK. The Midlands and the east of England closely follow suit, offering enticing prospects for those in search of a second property in proximity to their primary residence.


Read more Property Investing News HERE


Brexit, Britons' Overseas Home Rentals, English Housing Survey, The Times Statistics

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