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Spain 'is a buyer's market'

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Spain has long been established as a very popular country with people from the UK. British holidaymakers have headed to its sunshine resorts for many years, while its lifestyle attractions have made it a hotspot for those who want to relocate overseas.

And if the observations of Spanish Property Insight are to be believed, its appeal is showing no signs of diminishing just yet.

According to Mark Stucklin, head of the organisation, Spain is now a "buyer's market", particularly in those areas where demand is especially high.

This, he said, is because people who are arranging a money transfer in order to purchase a property in the country have lots of quality real estate from which to choose. As a result, they can afford to be "picky and fussy" about the options on the table before making commitments.

Mr Stucklin identified Alicante as one of these "consolidated areas", along with the Costa del Sol and the Costa Blanca.

He noted that they all have particularly good amenities and public services, which means property buyers from the UK will not have to compromise on their living standards if they wish to set up home in Spain permanently.

However, Mr Stucklin advised prospective buyers who are looking to transfer money to the country to research the market properly before committing to a purchase.

He said this is necessary because some of the properties that are currently on the market are overpriced, although he stressed there are some "really interesting" deals at the moment.

Mr Stucklin added that buildings that were built in second or third-rate areas at the height of Spain's housing boom are likely to struggle to attract high demand.

This comes after he said current exchange rates between the pound and the euro could make Spain an attractive option for British buyers to consider.

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