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'Spain a firm favourite with British investors'

Article Date : Tuesday, March 20, 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 is the jewel in the crown of overseas property investment, one expert has said.

According to Darren Fretwell, head of UK sales at NatWest International, buying abroad is becoming an increasingly realistic option for Brits, with Spain proving to be a firm favourite.

Furthermore, Spain is becoming more popular with investors looking to expand their foreign portfolios.

Writing for website Mortgage Solutions, Mr Fretwell said that because property values in Spain have risen steadily in the last ten years, investors are now keen to raise finance against the equity.

"When looking at the risks of buying property abroad, the Spanish market is about as established as it gets," he commented.

He added that although the rate of growth could slow this year, there is no evidence that prices will stop growing.

Last week, the European Estate Agents Union recommended that investors make sure their newly-acquired property has planning permission.

The union said that hundreds of properties have been built on agricultural land in Spain without the necessary licence required for first occupancy.
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