British expats are being advised to look at destinations other than Spain following the announcement of its new property tax, which could be as high as 100%.
Spanish Prime Minister Pedro Sánchez announced on Monday that non-EU residents could have to pay an up to 100% tax on the value of their properties in order to make the housing market better for locals.
In 2023, non-EU residents bought 27,000 properties in Spain, which Mr Sánchez said were “not to live in, but to make money from”. Brits are now turning to other countries to move to as historical favourite Spain seems less appealing.
The only other European nation with coastlines on both the Atlantic and Mediterranean, France boasts a climate, culture, history and natural beauty that draw more international tourists than any other country in Europe.
Mark Harvey from Knight Frank estate agency recommends the southwest region around the Pyrenees foothills or inland areas from the Var coast, between Nice and Marseilles, such as Lorgues, the Times reports.
For all Schengen countries, UK passport holders are permitted to stay for 90 days within any 180-day period. To extend your stay, you must apply for a visa before travelling.
The VLS-T temporary long-stay visa allows stays of up to six months, costs €99 (£83) and is renewable.
For those planning to permanently relocate or retire to France, the renewable VLS-TS long-stay visa (€225) permits an initial stay of 12 months, leading to permanent residency after five years.
Greece, with its rich history, vibrant culture, pleasant weather, stunning landscapes and warm hospitality, remains a favourite among many.
On a practical note, it offers a golden visa for non-EU citizens who invest at least €250,000, although new regulations stipulate a minimum investment of €800,000 for properties in popular areas, including Athens and numerous islands.
The demand for rentals is particularly high in central Athens, the university city of Thessaloniki, and the islands of Crete and Corfu.
Greece is part of the Schengen area, meaning stays exceeding 90 days necessitate a visa. Options range from a D Visa for employment, family reunification or retirement (starting at €180), to a digital nomad visa (€75).
The golden visa costs €2,000 with an additional €150 for each family member over 18.
Montenegro is a more underrated option and a haven for boating enthusiasts with its modern marinas filled with sleek superyachts, crystal-clear waters and enchanting landscape.
The tourism sector is flourishing, with luxurious five-star hotels and three significant waterfront resorts – Porto Montenegro, Lustica Bay and Portonovi – offering top-notch modern homes for sale and rent.
Advantages include no stamp duty on new-build homes, property tax of 0.56%, income tax ranging between 9-15%, and capital gains of 15%.
If you’re planning an extended stay in Montenegro, beyond the 90 days in every 180-day period, you have a couple of options.
You could opt for a temporary residence permit, which is valid for a year and comes with a €25 fee, or choose a renewable permanent residence permit that lasts up to five years.
This permit caters to various purposes such as business, study, employment, or investment. After a decade of residing in Montenegro, you’re eligible to apply for full citizenship.
