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Selective property investment could find value in Spain

31st March 2008 | back to article listings BACK    print this article PRINT

Spanish property investment could still offer good value for money if purchasers know where to look, it has been suggested.

A report in the Telegraph suggested that even in areas of southern Spain, a region that has been subject to high levels of development, there are still investment opportunities that offer real rewards.

Local market expert Sean Collins said that investors who are selective about their purchases could find "great value" in Spain.

The Pure International managing director explained that "opportunistic" investors could take advantage of properties on the market in Costa del Sol, where there is established and reliable infrastructure, financing and rental pools.

Experts agree that the current state of the Spanish market makes it ideal for buyers to negotiate lower prices. Fernando Encinar of Idealista estate agents said that this trend is new for Spain.

"Buyers, not sellers, are fixing the price," he told the Independent. "It means we can expect substantial discounts in coming months."

Indeed, with the Spanish property market at a trough, buyers could take their pick as sellers are willing to accept lower offers and developers offer bargain deals.

Mr Encinar's comments came as the country's national statistics institute reported a drop in property purchase activity at the start of 2008, with areas such as Madrid and Catalonia suffering. The market in Murcia, on the other hand, remained reasonably active.

Alicante's Costa Blanca is another region that remains popular among foreign property investors. Property website Kyero claims that it enjoys the most interest from buyers from outside Spain - not least because the average property price there is around three per cent under that of the rest of the country.

The portal highlights the facilities on offer in the area, such as golf resorts and shopping, as well as the accessibility by air, rail, road and sea as contributing to the area's appeal.

Foreign property investors who are unsure about how and where to purchase their next property have been offered some tips by experts speaking to the Telegraph. Considering the holiday destinations in a country that are favoured by local residents could be an indication of a potential property investment hotspot.

Meanwhile, investors are advised to ensure they have a number of options when it comes to selling on their property. Before investing they should ascertain whether there will be demand from potential buyers and whether locals would be able to afford the property when it is time to sell it.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/4103.html. Alternatively, please see our full press release archive.

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