Bargain properties on offer in Spain

Wednesday April 2nd , 2008

A British newspaper has encouraged overseas property investors to keep an eye on the Spanish market.

The Independent said the country still offers good investment opportunities, despite recent problems such as the impact of the credit crunch.

Spain has also attracted negative publicity as a result of the policy of bulldozing properties that have been illegally built.

According to the Independent, this has led to many investors choosing to look elsewhere, which in turn has hit prices.

The newspaper said that real estate agents in Spain have been forced to reduce asking prices in many areas.

However, it believes this will ultimately be good for investors, as they can snap up properties while they are unusually cheap before the market picks up again.

The Independent said: "No downturn lasts forever - the worst time to buy suddenly becomes the very best time."

Earlier this week, Spain received further praise from ShelterOffshore.com, which described it as an "incredibly attractive" country in which to invest.