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Spanish real estate values 'likely to fall by a further 20 per cent'

Source: Property Showrooms - Wed 16th Jun 2010

Market values of Spanish property may decline by up to 20 per cent in the future and the market has not reached the bottom just yet, it has been claimed.<>/p

Overseas property journalist Marc Da-Silva says that despite the threat of a further drop in value of real estate, the market is still likely to remain a popular choice with investors from Britain.

Many are still attracted to Spain by the climate, friendly atmosphere and good transport links to the UK.

However, despite his negative outlook for the Spanish property sector, Mr Da-Silva conceded that the current exchange rate also made things attractive to potential overseas investors.

"The pound has improved significantly against the euro and, as a consequence, that means it is a win-win situation at the moment for Brits buying in Spain" he explained.

"Spain is a great country and people are always going to buy in Spain. It is always going to be the most popular market with Brits because it is just where Brits go."

Those searching for property in Balearic Islands may be interested to know that searches for real estate in the region increased by 3.65% in May compared to the same period last year, Rightmove Overseas has reported.

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