Sunday, January 11, 2009

Spectacular bargains in Spanish costas

Spanish Costas

Properties in Spanish costas are popular as ever with overseas investors, especially now as it is possible to find bargains, a property expert has claimed.

The idealist.com has stated that Coastal resorts in the area are seeing falling prices, with drops of 15 per cent in Malgrat and Pineda y Premia de Mar and 13.3 per cent on the Costa Brava. The plummeting prices could spell good news for Brits hoping to move to Spain.

John Howell, from the International Law Partnership, told Country Life that people planning to take advantage of falling house prices in Spanish costas should not be afraid to make low offers. He added that the infrastructure can support large numbers of British retirees. Mr. Howell also suggested that repossessions and distressed sales may be good investments.

Martin Dell of kyero.com has said that some Spanish property sellers are currently willing to reduce their prices by as much as 30 per cent. Industry experts predict that Brits looking to buy homes in Spain could enjoy "incredible value" in 2009.

In related news, Brits are now the Spain's fourth-largest immigrant community and recent figures showed that the number of British people seeking a new life in Spain has risen by 12 per cent.

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