Sunday, December 7, 2008

Barcelona packed with cut-price bargains

The Spanish city of Barcelona is one of the most desirable destinations for overseas property investors, it has been claimed.

According to the Times, international buyers could find some "promising deals" with buy-one-get-one free properties, multiple bargains and 20 per cent discounts. This means that foreign property buyers could find now a good time to snap up a residence and there is now "real value for money" in Barcelona, with up to 20 per cent knocked off housing prices.

Director of the Lucas Fox estate agency Alex Vaughan commented: "buyers could find some 'tempting deals'. Now you can buy things considerably cheaper if you get to know the market a bit". Shelter Offshore has suggested that foreign buyers should take advantage of the current lull in the market and grab a home while it is at a bargain price so that chances are that they will be buying into a location that will boom again and boom again soon.

The launch of a new cross-country high-speed rail service from Madrid to Barcelona is a significant improvement to the national transport network and would also have an impact on places along the route, as it means that the two cities will be easily accessible from these locations. Moreover, they could be more desirable to prospective property buyers, including foreign investors.

This comes after the news that Barcelona was found to be the most romantic city in the world in a poll by Teletext.