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International Property Investment News
"Stability" in Spain
Though it remains a popular market, the reputation of investment property in Spain has taken a beating of late.
Property consultants have labelled Portugal a preferable marketplace due to the lack of supposed lager louts, while fears of a crash in May left Spanish property on a slippery slope.
However, the Global Currency Exchange Network has stressed that if steady growth is on your wishlist as an investor, Spain is an ideal destination.
A spokesperson said: "We are aware of a certain sentiment in the marketplace that Spanish property-buying may be slowing down. However, as a company we are still transferring more euros year on year to Spain as each annum passes.
"As far as facts go, construction in Spain dropped by 11 per cent in 2006 to a level of €4.9 billion worth according to the Bank of Spain.
"Mortgage applications also fell off as the European Central Bank raised interest rates to 3.75 per cent."
He concluded: "The key word to look at is 'stability' and the more established investment areas of Spain, Italy and Cyprus offer this in bundles, a fact borne out by years of interest from the British buyer."
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