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Spanish property market 'very much alive'

Article Date : Friday, May 25, 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

Despite murmurings in the media about a possible property market collapse in Spain, investors are being told they gave "little cause to fear".

Parmy Olson, an assistant news editor at Forbes news agency, believes that the market will be protected by Spain's healthy economy and moderate rises in interest rates.

According to Ms Olson, some experts have been keen to point out that although the real estate-related loans sector is slowing down, it is being offset by a rise in non-real estate loans.

HSBC analyst Carlo Digrandi told Forbes: "We would argue that mortgage demand should continue to be supported by positive economic conditions.

"We continue to believe that a major crisis would only be created by rapid changes in the economy. On the basis of our current economic forecasts we believe this is an unlikely event."

In recent weeks, a number of experts have lined up to defend the Spanish property market.

Martin Cox, spokesman for Global Currency Exchange Network, told City Wire that even if Spanish property devalued by ten per cent, it would not have a long-term impact on the market.
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