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Real estate figures show Spain 'is at the top of the game'

Article Date : Tuesday, April 24, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Investor returns in the Spanish real estate market are continuing to accelerate, new figures have shown.

According to Investment Property Databank (IPD), returns in Spain grew by 17.4 per cent last year.

Overall capital growth increased by 11.3 per cent, while there was a 5.5 per cent improvement in income returns.

"The total return of 17.4 per cent shows that the Spanish real estate market has maintained its position among the best performing European markets," said Christian de Kerangal, managing director of IPD.

He added that industrial property did particularly well in Spain, with 2006 the second consecutive year that the industrial market outperformed other sectors.

Earlier this month, 1st Property Investment advised investors to seek professional advice before rushing into Spain to "make their fortune".

The firm said that many Britons buy a property in Spain without proper preparation and legal advice, and then get "stung" by the lack of transparency in some transactions.

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