Insurance News Archive

Property investment 'will remain popular' in Spain

Spain will continue to be a popular location for property investment despite recent stories of high prices, over saturation and legal problems, an expert has said.

Paul Bradley, a spokesman for the Spanish Property Owners Guild, said tourism was up seven per cent on the previous year last month, and dissatisfaction with problems at home in the UK means expatriate life in Spain remains popular.

He added increasing numbers of Brits are now starting to invest inland to take advantage of lower property prices.

Mr Bradley, however, did advise potential investors to hold off until the Spanish market comes out of the "enormous valley" it is in.

"We recommend waiting for 12 months then cash buyers can snap up some bargains," he said.

According to the Association of International Property Professionals, Spain remains the most popular country of overseas property investment for Brits.

Last week, industry expert Mike Stucklin, head of the website spanishpropertyinsight.com, warned the Spanish buy-to-let market is returning "abysmal yields" and the commercial market is not looking good.

25 Apr 2008