Long-term investment opportunities possible in Spain

Article Date : Friday, April 27, 2007

In spite of anxiety about the possibility of a coming Spanish property crash, buying a house there now remains a good proposition for the long-term, according to some market analysts.

Economists at Lombard Street Research this week warned that the Spanish housing market was "about to implode" under the pressure of over-investment and excessive supply.

Over the next 12 to 18 months, British investors who have bought up properties in Spain could suffer, Diana Choyleva, Lombard Street's director, said.

"We will definitely see house price growth stop and falls in nominal prices are likely," she commented.

But longer-term prospects could still be stable, Pierre Williams of investment consultancy Inside Track told the Telegraph.

"The era of automatically making vast sums of money on the back of rampant house price rises is over," he admitted.

But "that does not mean that those quality properties in quality locations can not deliver excellent returns as a mid to long term investment," he added.

For now, property investors will find this is "the perfect time to pick up a bargain," Jamie Liddell, a property expert at Homes Overseas Magazine, told the paper.

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Long-term investment opportunities possible in Spain

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