Spanish market 'performing strongly'
Monday March 31st , 2008
The Spanish housing market is performing strongly in the face of global economic problems such as the credit crunch, an expert has stated.
Liam Bailey, head of research at estate agency Knight Frank, said this means that some parts of the country still offer a favourable environment for investors.
This is despite the recent negative publicity surrounding the slowdown in the rate of house price inflation, as well as a fall in demand in certain areas.
However, Mr Bailey insists that while these problems do exist, they do not apply to the country as a whole.
Speaking to the Daily Mail, he highlighted Murcia as an area that saw an above-average increase in house prices last year.
He commented: "Madrid saw rates below two per cent, but this contrasts sharply with 8.1 per cent growth in Murcia."
The Office for National Statistics recently revealed that Spain is one of the most popular foreign markets among overseas property buyers from the UK.
