Spain offers bargain properties

Overseas property buyers have been advised to consider snapping up a bargain residence in Spain.

According to Homes Overseas magazine, the downturn in the Spanish economy is having a deleterious effect on various sectors, including the housing market.

While this may be a negative development for short-term investors, it could be a good window of opportunity for lifestyle buyers to pick up a relative bargain in the country.

Homes Overseas commented: "Now appears to be a great time to negotiate a below-market value property purchase."

The publication added that the pound is expected to strengthen against the single European currency over the next few months.

This, it stated, means that the cost of buying a property in Spain will be further reduced.

According to the Association of International Property Professionals, the country is currently the most popular location among British property buyers.

Spain was said to account for more than a quarter of all overseas purchases last year.

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