'Fantastic Value' Offered By Spanish Repossessed Property

'Fantastic value' offered by Spanish repossessed property

Article Date : 04 March 2011
News Section: Spain

Demand for property in Spain may be set to increase following comments from one leading property portal regarding the surplus of repossessed residential homes now on the market.

Similar to a number of other Spanish property companies, Property-Spanish.com has seen an increase in the number of enquiries for real estate in Murcia - near the proposed new Paramount Film Studio Theme Park.

Indeed, the firm explained that demand in 2011 is already up over 150 per cent on last year.

"With the banks keen to clear their property portfolios, the prices on bank repossession property in Spain offer fantastic value," Mike Price, sales director, said.

Reports suggest that there are more than a million unsold properties in Spain currently.

The news follows figures released by real estate portal Homesgofast.com which revealed that some 37.5 per cent more searches for property in Spain took place in January compared to the previous year.

According to website, interest in the Balearics and Canary Islands could be replacing main land Spain for property purchases in the coming year.

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Article created on behalf of Propertyshowrooms.com News Desk (http://www.propertyshowrooms.com/news/)

'Fantastic value' offered by Spanish repossessed property

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