'Reasons for optimism' in Spanish market

There are reasons to be optimistic about the state of the Spanish property market in 2009 after a difficult 12 months, it has been claimed.

Speaking to Property Wire, Mike Hamilton of Spain-based property developers Casas de Lorca explained that the "love affair" Britons have with the country will cause sales of property in Spain to improve once again over the next year.

"I predict that if dropping interest rates begin to stimulate the UK property market we will be seeing at least a 30 per cent growth [in Spain] versus 2008," he told the news source, noting that the country is likely to be the first choice for those looking to invest, especially given the current "uncertainty" in the stock market.

A recent survey by Alliance & Leicester revealed that expatriates living in Spain are among those most likely to receive visits from family and friends, news that may encourage those considering investing in the country to do so as they may see demand from Britons looking for accommodation during their visit.