Buyers advised to consider Spanish property market-110708

Overseas property buyers could be able to purchase a residence in Spain at a relatively low price, according to a media outlet...

Homes Overseas magazine stated that the property market in the European country has recently taken "a mauling".

As a result, house prices in many parts of Spain are either stagnating or falling.

Therefore, the magazine believes that lifestyle buyers such as those who want a holiday home abroad could be able to use current market conditions to their advantage.

Homes Overseas commented: "The distressed market means that there are bargain opportunities available."

The publication added that Spain is still the most popular foreign destination among overseas property buyers in the UK.

Earlier this month, property analyst Shelter Offshore stated that the downturn has now opened up more locations to people who want a second home in Spain.

For example, it said previously unaffordable areas such as Marbella are now far more affordable.