Foreign Investors keeping a close eye on Spanish property

 

Foreign investors are expected to be keeping a close eye on the Spanish property market over the coming months in the hope of taking advantage of bargain acquisitions and distressed sales that are likely to be put to sale.

In a recent interview with Reuters the MD of Orion Capital Managers, Van Stults, said how property in Spain is one of the key targets for the company's European Real Estate Fund III.

According to Stults, many investors now believe that Spanish property prices will soon 'bottom out', and that the market will recover, and allow investors to see a return, by 2013.

However, he also mentioned how investing in Spanish real estate was not the right thing to do for every buyer, especially for those with little experience of either propery investment, or the Spanish market: "Rents are soft and there is a tremendous consolidation away from secondary and into prime and quality property."

Earlier this month a report published by Spain's National Institute of Statistics (INE) revealed how the number of buyers of Spanish property fell by almost 30% during April, compared with the same period last year.