Spain still 'most popular destination' for foreign buyers
23/02/09 19:21
Spain is still the favourite destination for British people looking to move abroad and invest in foreign property, it has been claimed.
Les Calvert, director of the online investment portal Property Abroad, believes that the country's strength as a tourism destination means it will remain the ideal location to make a foreign purchase.
His comments come on the back of a survey by the Spanish Property Owners Guild, which revealed that prices could drop 15 per cent over the coming year.
Mr Calvert said: "Spain is still the most popular destination with overseas property buyers and that is almost completely undeniable.
"In the current economic climate, most people are buying-to-hold for the economic recovery and I would recommend buying a property in Spain … more so now than I would have a year ago."
Specifically, he identified the island of Tenerife as a Spanish region where prices have continued to increase, despite the global economic climate.
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