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Spanish property remains popular with investors

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Spanish property remains popular with investors

Foreign property buyers are continuing to look for investment opportunities in Spain, an expert has noted.

According to Marc Da-Silva, editorial director at International Estate Agent Today, interest in real estate in the European country is growing at the moment.

Indeed, he noted the nation is attracting a "huge following" right now from foreign investors, which he said shows the "appetite is certainly there".

However, this does not appear to be stimulating a noticeable recovery in the Spanish property market.

"I think people recognise that realistically across the vast majority of Spain, prices are still likely to fall and in some cases still fall significantly," Mr Da-Silva observed.

He noted that since the European country's economy is struggling "quite badly" at the moment, a recovery in the property market still seems to be some way off.

Mr Da-Silva predicted that house prices in Spain will need to fall by at least 15 to 20 per cent before visible signs of improvement in the market start to appear.

However, economic conditions in the country could potentially make it a good option for those seeking to buy a home at a knockdown price.

According to Les Calvert, director at Property-Abroad.com, some "cracking bargains" are currently available in Spain.

Nevertheless, he stressed that overseas property buyers can only take advantage of these if they make sure they look in the right places.

Mr Calvert said foreign nationals could snap up some repossessed homes and bank stock they want to dispose of.

"There is still an awful lot of stuff in Spain in general," he remarked.

The expert added that there is no reason to rush into purchasing a property in the eurozone, as it could "bottom out and then leave the chance to buy or it could go the other way".

Mr Da-Silva has already advised overseas property investors they do not need to act hastily if they are considering transferring money to the eurozone, as prices are unlikely to go up by a significant amount in the near future.

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