spain property becoming more attractive as economy passed worst
News Posted On: 28 August 2009
Spain has become the latest in a slew of countries to announce their imminent exit from the recession.
Today Forbes magazine (online) ran a story on the Spanish Prime Minister Jose Luis Rodriguez Zapatero's statements, made one day after it was revealed that Spain's economy had contracted by 4.2% this year.
"The worst phase of the crisis has passed but we have still to make a great collective effort to ensure that the recovery begins as soon as possible," said Zapatero.
He says there are also growing signs that "the problem of destruction of employment is behind us but we have difficult months ahead before we see the recovery."
There has been a lot of positive news regarding the Spanish property market in recent weeks also, most notably reports of increased activity from British buyers in search of bargains, including a very positive article in the Times .
Sterling recently regained some ground against the Euro, making Spanish property 5% cheaper to British buyers than in April. This has combined with the massive drop in Spanish property prices to make the country a very attractive proposition for lifestyle buyers, and also to long-term investors who know where to look.
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