Overseas property is 'still viable'

Spanish property investors are likely to be encouraged by news that foreign assets are still "very viable".

Nick Marr, chief executive officer at Homesgofast.com, has offered a more positive view of the global property market, despite reports of declining real estate values in recent years.

He said that many investors have become "more realistic" since the global financial crisis and have adopted a different mindset.

While in the past, buyers have been able to "earn a quick buck", investors now have to be more cautious about where and what they are buying into.

"Investors compare what they can achieve elsewhere - in banks and stocks - and see that overseas property is still very viable," he said.

It follows the release of recent figures from Rightmove Overseas which show that Spain and Italy dominated foreign property searches last month.

Spain in particular performed strongly, with seven regions placing in the top climbers table, the firm noted.

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