Irish recovery leaves Spain behind

Spain is now one of the few eurozone countries still in recession after news emerged that the Republic of Ireland has seen a return to economic growth.

Fresh figures revealed that Ireland's gross domestic product increased by 0.3 per cent in the third quarter of this year, a situation that leaves Spain and Greece among the few users of the euro still in a downturn.

Those keen to invest in Spain may wish to take advantage of the evident greater weakness of its economy to pick up bargains while such problems feed into lower property prices.

Eurostat figures for Spain in the third quarter published earlier this month revealed a 0.3 per cent decline.

However, those hoping an economic turnaround will help property investments to gain in value may take heart that this fall followed declines of 1.1 per cent, 1.3 per cent and 1.1 per cent in the previous three quarters.

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