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Spanish property market still 'contains low-priced homes'

Source: Expatriate Healthcare - Sat 18th Dec 2010

More people will be able to relocate abroad and invest in foreign property because of the current fragility of the overseas markets, an expert has said.

According to property journalist Marc Da-Silva, Expats, Investors and other prospective homeowners in Europe should be able to cash in on markets that have "bottomed out".

"At the other end of the spectrum, there are other markets that haven't yet bottomed out, such as Spain and Portugal, but there are a lot of vendors that are desperate to sell. The room for negotiation now is huge and people are negotiating extremely low property purchase prices," he noted.

Following the worst of the global financial downturn customers are able to get more for their money.

"People are saving money with significantly lower interest rate payments on their mortgages and it is creating more money to invest in whatever it is you want to buy," Mr Da-Silva added.

His comments follow research from the Worldwide Property Group showing a 26 per cent increase over the last year in the number of people who believe now is the right time to invest in foreign property.

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