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Viva Espagne?

25th June 2008 | back to article listings BACK    print this article PRINT

The fortunes of Spanish property may have been dismissed too easily by some, in much the same way the nation's football hopes were lowered when the Spanish team met football giant Italy in the quarter final stages of the Euro 2008 championships. Although the game went to penalties and Spain were naturally the underdogs playing against the World Cup champions, they managed to rise triumphantly against the odds to book their place in the semi finals. And it is still possible that, despite the emergence of new, potentially successful nations - both in property and football - Spain will prove to be a safe bet, even though it may have been previously dismissed as a lost cause.

Property investors should not lose faith in Spanish development opportunities, it has been suggested by manager of the SEB ImmoInvest fund Barbara Knoflach. As reported by Citywire, Ms Knoflach has noted a resurgence of investment in the country. "I am seeing two markets where we are starting to see investor activities again - in the UK and Spain. Both markets have seen very heavy corrections. In Spain, logistics properties are already at a level where we can buy again," she told the news source.

Her confidence in the Spanish property market is matched by Mark Stucklin from Spanish Property Insight. However, Mr Stucklin remarked that investors should choose to invest wisely, considering areas of the country that have not been overdeveloped in the past, according to thisismoney.co.uk. Referring to the Andalusian town of Tarifa, he said that the region offers a different aspect of Spain that does not attract the hoards of British holidaymakers that jet off to the Costa del Sol every summer.

Mr Stucklin described the successes of the property market in the area, which has seen little development in recent years due to stringent planning regulations. "After five years in which property prices have at least doubled, the heat has gone out of the market. But, by virtue of never having seen the new-build explosion that happened around the corner, property is in limited supply," he stated, adding: "There is no glut of apartments."

Property investors should consider their tactics when it comes to considering a Spanish purchase - looking for new areas that have seen limited development could be one route to success. Surely, the Spanish squad should also look to the future and the potential of what could happen, rather than past disappointments. What is certain, however, is that such an established and popular nation should not easily be discounted despite the emergence of Russia and Turkey in both football and property terms.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/4244.html. Alternatively, please see our full press release archive.

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