Spain is ripe
Thursday, March 31, 2011 @ 7:19 PM
Spain 'Ripe For Property Investment Investors can still make money on Spanish property despite a recent market slump that saw prices fall 40% in some areas, an expert has said.Ray Withers said people looking to snap up an overseas property might see the best opportunities in markets recovering from the crash over the next few years.That could point buyers towards Spain, where prices are low after recent turmoil in the property market.Mr Withers said: "If you are investing abroad in countries that are recovering you are likely to profit from it. There are risks in certain markets the further out you go, or the more emerging markets, but with that risk comes a higher reward, obviously."The value of Spanish housing fell 0.1% in the last quarter of 2010 and suffered an annual fall of 1.9%, the latest figures from the country's National Statistics Institute show. However, a number of analysts calculate the yearly decline is much larger than that.
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