Spanish property market 'holds good buys'

 

Prospective expatriates considering relocating abroad may find there are an "awful lot of opportunities" to invest in the Spanish property market, a website specialising in foreign homes has stated.

Les Calvert, director at Property-Abroad.com, commented that there are still "good buys" for would-be expatriates, despite figures from the National Statistics Institute showing Spanish house sales are up by seven per cent annually.

"Obviously the property market in Spain has moved tremendously over the last few years. There are an awful lot of repossessed distressed properties on the market, so for a buyer there an awful lot of opportunities out there" he pointed out.

He added that British people are still cautious about buying homes overseas because of the financial situation back home, but said he remains optimistic about the housing market in general.

Mr Calvert's comments follow research from Tinsa which revealed that Spanish property prices have dropped by 4.3 per cent in the last 12 months.