AIPP July Newsletter

Welcome to our July Newsletter

It has been an eventful month for the UK following the unexpected Leave vote in the EU referendum: the resignation of David Cameron, the appointment of a new Prime Minister, falls in Sterling but with the Article 50 triggering on hold - for now

Despite some political and economic uncertainty, we think the British appetite for a foreign property remains as high as ever - but now it's about timing. So we thought we'd start this newsletter by listing the 10 reasons we think the British buyer market will remain positive for the foreseeable future.

The AIPP top 10 reasons why Brits will continue to buy foreign property

1. It will take over 2 years for the UK to leave full EU membership under terms set out in Article 50 of Lisbon Treaty.
2. Full UK exit from EU is unlikely with perhaps the Norwegian or Swiss model of EU access and free movement of people perhaps most likely - both being highly prosperous countries - like the UK
3. 35,000 Brits forecast to buy a foreign property this year, up from 30,000 last year (source RMO)
4. Brits have such deep-rooted passion to own property and to enjoy life outdoors with some sunshine, decent food and drink.
It rains a lot here!
5. Yes, the reality is that the Pound currency falls to Euro and Dollar may well deter some of the British buyers on a very tight budget - for now - but they will not go away and are looking to see what happens with prospect for the Pound to rise over a few months, after the summer.
6. UK has the 2^nd largest GDP in Europe after Germany, still with positive growth - even with BREXIT. The UK has strong market fundamentals and British Property is expensive - much cheaper to buy a holiday or retirement home abroad!
7. 'You can't take it with you!' The UK has a massive baby-boomer generation wanting to retire and they are in a hurry to enjoy their 'Autumn years' - they have no mortgage, good pension and savings. They are cash buyers. It is, perhaps, the younger potential holiday home buyer with less cash (with a UK mortgage, perhaps needing a 2nd mortgage on holiday home), who may take some time to consider their options into the autumn and quite possibly the new year
8. British confidence in the European economy - many Brits have been concerned about Southern European economies and the need for further bailouts and what this may require Brits to fund, going forwards. With the prospect of this being removed, confidence in spending British money in the softer Southern European economies (in particular) is returning.
9. Online foreign property searches are not witnessing any significant fall-off with the largest international property show still looking very strong with exhibitors in the UK's 2nd largest city, Birmingham, end of September.
10. The UK has had its EU Referendum and is now quickly adapting to the 'new reality' with good economic indicators. But the rest of Europe - particularly France, Germany (elections in 2017) and Netherlands must now address their own internal EU issues - and this may will lead to market and buyer uncertainty. We wish them well in finding their own answers. But Britain is still Great - even though it has rained a lot this summer with terrible flooding - creating even more UK buyers of a foreign property somewhere sunny....

AIPP seeks to engage UK Govt to protect British owners of a foreign property

AIPP CEO, Peter Robinson, has written to new Secretary of State for Exiting the European Union, Rt Hon David Davis MP.
In this letter, AIPP seeks engagement with HM Government (HMG) to protect the rights of British owners and future buyers of a foreign property, with a focus on the EU.
AIPP has also prepared and sent a 9-page document identifying the 20 key points at issue to assist HMG and to set out how AIPP members could input to the BREXIT process, helping to steer positive outcomes for British property owners in the EU and the trade that supports them.

If you would like to get involved in support of this initiative (either as a British owner of a EU property or member of the trade – AIPP member or not), then please contact our CEO directly: peter@aipp.org.uk

Click HERE to read the AIPP document sent to Rt Hon David Davis MP: BREXIT: Property & associated issues for British citizens owning property in the EU. The 20 key points at issue.

Prime Location publishes 5 buying guides authored by AIPP: Spain, France, Italy, Cyprus & Portugal

AIPP announces leading UK property portal, Primelocation.com, has just published 5 country buying guides written by AIPP. The AIPP guides can be found by clicking the following links:

AIPP guide to Spain

AIPP guide to France

AIPP guide to Portugal

AIPP guide to Italy

AIPP guide to Cyprus

AIPP Developers build for the Senior Living market
- learning from the Best of the USA

Dr Margaret Wylde, Founder & CEO of Promatura and world-leading expert on the senior living market co-hosted a free webinar with AIPP 21st June and a Think-Tank 7th July at AIPP offices in London. You can watch the webinar here.

Overseas property sector
– should there be doom and gloom?

Click here to read the article by AIPP Member Simon Conn - Overseas Property and Finance Specialist with over 35 years of experience. He seems quite positive!

Connect with AIPP Members for free
Networking Events

Want to raise your company's profile amongst the trade? Looking to find trade partners?
One of the ways to connect to other AIPP members is via our Networking Events.
These events, usually attended by over 100 property professionals, are the perfect opportunity to introduce your business to fellow AIPP members. Conveniently organised at the end of the first day of APITS Live! 3 times a year, they allow the trade to connect & network in an informal environment.
To facilitate networking, AIPP offers a limited number of 2 minute speaking slots for members - introduce your business to the trade then follow up conversations over a free drink.

What else have we been up to?
Click here for all the latest news