Falling prices could tempt investors to Spain

Falling prices in Spain could make it an ideal destination to pick up a bargain property, it has been reported.

According to a report in British newspaper the Independent, prices in Spain have fallen eight per cent since September 2008.

Property portal Property Ventures has recommended Spain as one of its European and Mediterranean "hot-spots" for 2010, citing the fact that the country is still one of the most popular destinations for tourists from the UK.

The portal says that there are around 1.6 million potential apartments and houses on the market and as such, discounts are widely available to purchasers.

Louise Reynolds, a director of Property Venture, believes that despite Spain's recent economic struggles, its popularity with tourists should help the market.

She continued: "Discounts on seaside property developments mean that there are some great purchasing opportunities."

Research conducted by Skyscanner showed that destinations in Spain were the most searched-for holiday spots on the internet by Brits last year.

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