Spanish property: Bargains to be had
18/08/09 12:43
There are a number of bargains to be had in the Spanish property market, say experts.
According to the Spanish Property Owners Guild, following recent price falls it will not be long before more investors consider buying.
"For cash buyers the time is certainly approaching to start looking to get into the Spanish property market, but only if investors are in for the long-term," advised Paul Bradley, a spokesperson for the group.
Spain has been hit hard by the global economic downturn. The most recent figures show the country's gross domestic product is down and output is still contracting.
Mr Bradley noted that "prices are still falling", something that could tempt would-be expatriates from parting with their savings.
Distressed properties can currently be bought at around 30 per cent less than before, he added.
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