Time to Invest in Spanish Property?

Despite a dramatic devaluation over the past few years, the Spanish Property Market is showing the first signs of recovery. Recent house price figures show that values are starting to increase again and analysts expect this trend to continue. This could be the time for Expats to invest in Spanish property.

London UK (Pryce Warner International Group) April 18th, 2011 – Recent figures on Spanish Property Prices show them rising 2.9% on last year, suggesting that the Property market may be seeing the beginning of a resurgence. However, this rise comes after a 31.5% drop the previous year.

The European Central Bank raised its rates by a quarter of a percent last week, which usually leads to more expensive mortgages. However, despite claims by the Bank of Spain that the housing market will not start to pick up soon, many analysts are claiming now is the time to invest.

Considering the previous state of the Property Market, the fact that prices are rising again is being taken as a good sign. It is also worth noting that a leading IMF analyst recently suggested that Spain is likely to avoid defaulting.

Prices are relatively low at the moment, and with them showing signs of rising, now may be the best time to invest before the prices start increasing. There is strong speculation that the recent small rise is a sign that the market has bottomed out and is now on an upward trend.

However, considering the state of the Market and that buying property in Spain can be a bureaucratic nightmare, anyone considering Investing in Spanish Property would be wise to seek professional advice and consult foreign Investment Firms before doing so.

David Harra, a Senior Market & Investment Analyst with Pryce Warner International Group, a Respected Financial Services Group who are specialists in the provision of Pension Plan Management for Expatriates Worldwide commented: “The Spanish property market shows signs of recovery, and some Investors and prospective buyers may see this is a good time to Invest. However, market resurgence is not yet certain, so Investors should be very careful. Pryce Warner International Group have over 35 years experience handling Overseas Property Investments and with many of our clients based in Spain we would be more than able to advise any prospective Investors.”

Pryce Warner International Group provide International Asset & Investment Management, Independent Financial Advice & QROPS Overseas Pensions.

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By: Aneil Fatania
Financial Editor
Pryce Warner International Group
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