The latest figures from Estate agents indicate that the devaluation of the Pound and the rise in local taxation has resulted in a five fold increase in Brits putting their homes up for sale. Most of these Brits are selling up their second home, no longer finding it a viable option to have a holiday home in Spain.
This is particularly prevalent in Estepona due to the almost trebling of local taxes in the past year. With the system very much skewed against foreign residents with large discounts only being available to local residents. A true case of a Town Hall shooting itself in the foot.