EU free movement of capital makes it easier for UK citizens to buy and own property in other EU member states, giving them the right to purchase property and keeping taxes on second homes low.

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Free movement of capital is part of the EU’s single market, bringing advantages beyond regular trade. It allows EU citizens to easily purchase real estate, open bank accounts, buy shares in non-domestic companies and invest throughout the entire EU. Companies also benefit, with the opportunity to invest in and own other European companies.

Approximately 1.3 million British citizens live in the EU. Spain is the top destination, hosting 319,000.

Sources:
http://ec.europa.eu/finance/capital/index_en.htm
http://www.un.org/en/development/desa/population/migration/data/estimates2/estimates15.shtml