Developers showing greater confidence in Spain

As developers start to show greater confidence in the Spanish property market, buyers are beginning to return, one local real estate company has claimed.

Chris Mercer, director of Mercers, explained that many holiday home buyers are returning to the market in order to take advantage of the fact that the market has bottomed out.

As a result, he said that a growing number of developers are starting to embark on new projects.

"I imagine that both entities feel that the market has bottomed, prices are indeed 50 to 60 per cent off bringing them down to levels of a decade ago and from here the only way is up," Mr Mercer added.

"As always, price is king. Resales offer stunning value for money, generally they are furnished, in established areas and easier to mortgage."

Recently, the Organisation for Economic Co-operation and Development claimed that unemployment in Spain needs to be tackled if the country's economy - and property market - is to recover.

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