Latest Insurance News
Expert issues advice to European property insurance holders
24 Nov 2009
Written by Michael Brown
Property insurance holders considering expanding their portfolio in Europe have been issued advice by a sector expert, who recommends that they choose a home with "proven legality".
Paul Bradley, a spokesperson for the Spanish Property Owners Guild, said that choosing a respected real estate company is a must for property insurance customers looking to buy abroad.
He added that this way the buyer will ensure that they are going through the correct channels and there is unlikely to be any financial wrangling.
"If the price of a property in southern Spain is low enough someone will buy it. However the real question is how low is the right price? The answer will depend on who the owner is," he said.
The expert's comments followed the publication of a report by Mercers, the southern Spanish real estate company, which said that the country's housing market has started to "whirr back into motion", with homes available for property insurance customers to buy if the price is right.
