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'Tread carefully' when buying property abroad

Source: Expatriate Healthcare - Tue 16th Nov 2010

Expats are being urged to "tread carefully" when it comes to purchasing overseas property in Spain.

According to, prices of Spanish homes could fall further still, which may drive interest back into the market.

"Everybody is trying to call the bottom of the market, but with more job losses in the UK public sector and things like that, people are a little bit more apprehensive for the time being" said Les Calvert, director of the company.

However, the country offers plenty of opportunities for investment, from the Costa de la Luz, which is an up-and-coming area of Spain, to the more popular parts of the nation.

His comments follow research from Tinsa showing that house prices in Spain have dropped by 4.6 per cent in the 12 months to October 2010, while costs of homes have fallen by 18.1 per cent since December 2007.

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