Property bargains to be found in Barcelona
03.12.2008
The Spanish city of Barcelona offers property investors a variety of bargains, experts have claimed.
According to the Times, the downturn in the property market has seen average sales prices down by ten per cent this year and sellers are accepting offers of up to 20 per cent below asking price.
Director of the Lucas Fox estate agency Alex Vaughan told the newspaper: "Everything was flying off the shelves two years ago. Now you can buy things considerably cheaper if you get to know the market a bit.
"There are opportunities all over the city."
Rita Fryer of the Property Finders advised that now was a good time to look at pricier areas, saying that there was a "tremendous opportunity" to buy in good areas for bargain prices.
Those who wish to make money by renting out their properties should look at the Born district near La Rambla which is where most tourists visiting Barcelona want to stay, Mr Vaughan suggested.
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