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Spain prospers in real estate boom

Article Date : Monday, March 05, 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

Spain enjoyed the highest increase in real estate turnover in Europe last year, a new report has revealed.

According to property research firm Scenari Immobiliari, real estate turnover grew by eight per cent in 2006, compared with 3.9 per cent in Europe as a whole.

It is expected that Spain will consolidate this rapid rate of growth as foreign investors flock to the country.

The study suggested that the German property market could be as prosperous as Spain this year, while Greece, Romania and Bulgaria are also expected to build on strong growth, reports Fly2Let.

Meanwhile, research by the Association of International Property Professionals revealed that Spain was the most popular destination for Britons considering investing abroad, attracting 31.6 per cent of the total market share.

The study also found that Brits spent around £20 billion on overseas property last year, with the average property costing £98,166.
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