Recovering Spanish market 'has potential'

Despite the recent turmoil in Spain, which has seen prices tumble by as much as 40 per cent in some regions, investors can still make a profit.

This is according to Ray Withers, the founding director of Property Frontiers, who noted that recovering markets are likely to present real estate speculators with the best opportunities for growth in the coming years.

The news may prompt a number of individuals to look for property in Spain, with the country currently offering low prices as a result of the market crash.

"If you are investing abroad in countries that are recovering you are likely to profit from it. There are risks in certain markets the further out you go, or the more emerging markets, but with that risk comes a higher reward obviously," Mr Withers said.

The latest data from Spain's National Statistics Institute shows that home values fell by 0.1 per cent during the forth quarter of 2010 and decreased annually by 1.9 per cent, although some analysts say the yearly decline is much greater.

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