spanish people like to buy property
News Posted On: 30 June 2009
Spaniards are keener to buy property than people in any other country in the eurozone, according to a recent report.
The study by Eurostat found that 83 per cent of families living in the country own the house or apartment they live in, reports Spanish Property Insight.
These findings could be welcomed by prospective investors in property in Spain because there is likely to be a strong resale market among locals.
More people in Spain lived in apartments than in any other country in the eurozone, with two-thirds of the population living in flats.
It also had the smallest proportion of people renting property in the country, as might be expected given the popularity of real estate ownership.
This could mean that property buyers looking for a home in Spain might find that purchasing in a popular tourism area such as the Costa Brava will give them more rental options among foreign visitors looking for a low-cost break.
Earlier this week, Paul Bradley of the Spanish Property Owners Guild said prices in the country have not yet bottomed out.
Written by Les Calvert
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