There may be some concerns that following Brexit moving to the Isle of Wight might have some added restrictions for EU, EEA & Swiss citizens. The same rules apply as before Brexit, and there is no indication that it will alter. Any non-UK-resident can purchase property throughout the UK, which applies to the IOW, a county with unitary authority within the British Isles.
However, there are a couple of things of note,
- Non-UK citizens can reside in the UK for up to 6-months before applying for a visa.
- Buying a property on the Isle of Wight does not confer residency on the purchaser.
- Deposits can be higher than it is for UK residents.
As tax-paying residents of the UK, there are no restrictions on buying or renting a property on the IOW other than being subject to the standard credit and status checks.
Things You Might Like To Know About The Isle Of Wight
The price varies from town to town on the IOW, with coastal areas being the most expensive in summer due to the tourist trade. Winter sees the rental prices drop, but they are primarily short-term rentals.
Longer-term rentals vary as to the area, but you are looking at approximately: (price per month)
- £450 – £550 for a studio rental
- £675 – £850 for a one-bed apartment
- £850 – £1,000 for a 2-bed apartment or house
- £1,000 – £3,500+ for houses semi & detached
Unlike neighbouring Guernsey, there are no restrictions on purchasing property on the IOW for UK residents and International non-residents. However, non-residents may have to pay more significant deposits than residents.
The process is the same as it is throughout the UK, and a solicitor is advised.
As with any house purchase price, some variables affect the price. Within IOW, where the property is situated, how large it is, the views and proximity to the islands’ main attractions, and the ease of commuting to the mainland can affect the prices. Prices can range from,
Studio Apartments from £130,000
1-bed apartments from £120,000
2-bed apartments from £295,000
2-bed houses from £165,000 – £300,000+
3-bed houses from £475,000 – £799,000+
4-bed houses from £875,000 – £2,750,000+
5+ bed houses from £950,000 – £5,590,000+
(Prices from Rightmove October 2021)
Moving Your Household Items To The Isle Of Wight
Moving from the UK to the IOW has no additional restrictions. If you are moving internationally, you may have some duty or tax to pay depending on the goods. See Gov.UK for more details. However, you are moving to an island, and it would probably be in your best interests to use a firm that has the expertise when it comes to house moves to and from the Isle of Wight. The Isle of Wight Removals and Storage company is an international removal firm with plenty of experience transporting your goods safely and economically to your new home. They can even offer secure storage solutions if your property is not ready for occupation.