Expatriate Insurance News: Inland Spain 'totally different'
31/01/11 17:04
Expatriates who are thinking about relocating to Spain might want to consider the benefits of different areas.
Tom Hall, travel editor at Lonely Planet, said that inland Spain tends to offer "a totally different atmosphere [to the beach resorts], still very traditional and very Spanish".
The comments follow news that the Spanish property market is set to enjoy a recovery in 2011.
German property group IVG published figures revealing that low rents are increasingly attracting demand and the sector may well recover faster from the debt crisis than its wider economy.
Rents in Spanish cities, like Madrid and Barcelona, have fallen by more than 40 per cent since the fourth quarter of 2008.
Thomas Beyerle, corporate social responsibility and research head at IVG, told Reuters journalists: "Theoretically, the real estate market always follows in the steps of the wider economy, with a delay of around 18 months.
"With Spain it is likely that we will see a case of reverse psychology."
He added that rents will most likely continue to fall early in the year but "they will soon pick up".
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