The impact of Brexit on property buyers and expats in France
The announcement that the UK has voted to leave the EU will lead to some uncertainty and concern among British people living in France and those planning to buy property across the Channel.
Over the next two years, the terms of the UK’s new status will be determined and the impact on the overseas property market will be unsure until negotiations between the UK and the EU are finalised. However, while we expect the market to hold its breath in the short term, we believe that people looking to buy a property in France will still be able to realise their dream and that the process is unlikely to become much more complicated than at present. After all, non-EU residents have been buying in France for many years and British people bought property across the Channel before Britain joined the EU.
We understand a lot of British people living in France will be concerned about their situation, especially with regards to their right to live and work in France and their access to healthcare. Once the UK has formally notified the EU that it wishes to leave there will be a period of negotiation and the rights and status of British people living in the EU will be high on that agenda. There will be no immediate change in your circumstances.
At present there are clearly more questions than answers, but we will endeavour to provide as much information as possible in the coming days, weeks and months. Despite the uncertainty in the run up to the referendum, we have been encouraged by the number of buyers keen to go ahead with their plans. The British love affair with France remains strong and is unlikely to be dented by the decision to leave the EU. Likewise, there are many French people living within our shores and the ‘entente cordiale’ will continue to be a binding link between our two countries.
Also published on Medium.