Can foreign buyers boost Spain's property market?

The most prolific buyers of Spanish properties have traditionally been Brits, but the strong euro is making it more difficult to find investors from the UK.

Speaking to The National, head of Spanish Property Insight Mark Stucklin explained that there has been increased interest from other European countries, as well as buyers coming from China and the Gulf.

He stated that they are "taking advantage of reduced prices and in some cases distressed sales from banks who are prepared to offer very attractive financing".

Meanwhile, Jose Luis Suarez, a professor at the IESE Business School, told the publication that there has been a significant rise in interest among Swedish and Norwegian buyers.

Comments made recently by Andy Bridge, managing director of A Place in the Sun, support Mr Stucklin's assertion about distressed sales.

He noted that any buyer with the means to pay cash for a home in Spain is in a "very strong position", as many Spanish lenders are trying to offload repossessed properties.
 

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