Brits 'have continued to buy Spanish property in the recession'

Property in Spain has remained popular among British buyers despite the credit crunch, one expert has claimed.

James Dearsley, European sales director for Atlas International, explained that many people have realised that real estate prices in Spain have reached a low point and as such are buying now with a view to realising profits in the future.

He noted that the market has witnessed "the return of the property investor knowing there are good returns to be made both from capital and rental investment perspectives".

Mr Dearsley pointed out that sales of Spanish homes to UK buyers have increased over the course of the year, adding that Brits have had "a love affair" with the country for decades.

House prices in Spain dropped by an average of 6.4 per cent in July, compared to the same month the previous year, according to the latest General Spanish Real Estate Index.

Assets on the Mediterranean coast saw their values decline more sharply than in other regions, falling by 9.5 per cent year-on-year.
 

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