Economic downturn 'could be good for investors'

Thursday April 17th , 2008

The downturn in the global economy could ultimately work in the favour of overseas property investors, industry analysts have said.

According to Foreign Property Buyer, financial problems across the world are impacting on countries such as Spain, thereby affecting its investment potential.

However, the online portal believes investors could turn these circumstances in their favour, as many property developers are also feeling the pinch.

The website said that many firms are offering incentives such as cash, good mortgage deals and even free cars to buyers.

Therefore, prospective investors have been told to find out what each company is offering and use it as bargaining tool in their own transaction.

Foreign Property Buyer commented: "It isn't all bad news if you are set on buying a new build property in Spain in the next few months."

The Office for National Statistics recently revealed that Spain is one of the most popular foreign markets among overseas property buyers from the UK.