Spanish international property market ’set to be segmented’
13.11.2009
The Spanish property market could break up into different parts, an expert has said.
Property writer Mark Stucklin of Kyero.com noted that a report from the Funcas savings banks foundation stated that there is some poor quality housing in the country that "will take years to digest".
The expert said that this comment "hints at" a separation in the country between two types of property, with the best selling at "reasonable prices" while the worst "may never sell at any price".
Such a situation may mean that those thinking of buying international property should not look at the headline price trends or even the local statistics, but rather see what is happening with different kinds of property.
The regional picture may also vary, as Andalucia’s government recently announced a €1 billion (£900 million) incentive scheme for locals to buy up unsold properties in the region.
Britons investing there may benefit from a rise in prices caused by the stimulus to the market.
Source: Halifax International
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