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Spain 'has huge opportunities' in property market

Source: Expatriate Healthcare - Thu 23rd Dec 2010

Future expats who are considering relocating abroad should know that the country's housing market shows signs of becoming more active next year.

Marc Da-Silva, a freelance property journalist, noted: "There is a huge opportunity; in places like Spain you can pick up properties for next to nothing."

He pointed out that countries such as Portuagal are still struggling financially and this looks likely to continue in the coming years.

"There is going to be no real property price boom in any of those countries, which is going to create opportunities [for buyers]," Mr Da-Silva explained.

"There is absolutely no rush because there is plenty of supply and those properties simply aren't going anywhere."

His comments come after Spain's National Statistics Institute revealed that house prices in the country fell 2.2 per cent in the third quarter and by 1.8 per cent over the last year.

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