Spain-bound expats 'should be cautious'
17/09/09 14:34
Expatriates considering a move to Spain should think carefully about whether buying a property in their host country is a good investment, says a real estate expert.
Responding a report that enquiries about properties in the country have increased by 150 per cent in the last three months, Mark Stucklin, head of Spanishpropertyinsight.com, said the figures were "good news".
The data, released by investment advice service Assetz, also showed that the majority of interest came from retired people, or those looking for second homes, rather than investors.
Mr Stucklin added: "You are better buying today then any time in the last two or three years. There is no time like a property bust for buying property - both to get better prices and as an investment."
However, he noted that many overseas buyers are "entirely deluded" about the market and advised those considering purchasing as an investment to be "very careful".
Reports from sales companies are one reason people are "goaded" into spending money without understanding the risks, he commented.
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