Expert advises caution in Spanish property market

A Spanish rental property expert has recommended potential property investors take time to research their ideal location so they can move quickly when the market stabilises.

Paul Bradley, a spokesperson for the Spanish Property Owners Guild, made the recommendations in response to news that investor interest in the country remains high.

According to Kyero.com, enquires about property in Spain were up 34 per cent in the first week of 2010 in comparison with the same period last year.

Mr Bradley dismissed this, putting the figures down to boredom among Brits surfing the web as an escape from the snow, adding it was unlikely that the high numbers would convert into transactions.

"However it does no harm to research your ideal location so at least you are ready to move quickly," he said.

He went on to suggest that the Spanish property market would fall another seven per cent, advising investors to hang onto their money until the market has stabilised.

According to the latest figures from Property-Abroad.com, Spain is the second most searched for destination for potential property investors.

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