spanish property the buyers are back and looking for bargains
News Posted On: 28 September 2009
Spanish property is still among the most popular with British buyers according to data released recently by overseas mortgage provider Conti.
Of all overseas property transactions involving British buyers seeking mortgages from Conti, some 22% of them were for properties in Spain.
The Spanish market is benefiting hugely from the prevalence of lifestyle buyers in the market looking for bargains. And there are certainly plenty of bargains around.
The fact that Sterling has once again nose-dived against the Euro, has meant that British expats can currently sell their Spanish property at a huge discount, without losing too much once they exchange the Euros back into Pounds.
That is before we mention the dozens of repossessed properties currently available in Spain; Spanish villas being sold at up to a 50% discount.
The resounding feeling at the moment is that it is time to buy, even that national pres in the UK is covering overseas property markets again, like it hasn't for the past year. The coverage is heavy on established markets like Spain, but there is even some coverage of emerging markets like Morocco, that really prove the mood has changed.
The repossessed properties have been selling in a matter of days, and people don't want to miss out.
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