Spain 'a place for cash buyers'

Cash buyers are the one group who can do well in Spain at the moment, an expert has said.

Spanish property specialist Martin Dell of Kyero.com stated these investors are the ones that can realistically do well there in "looking for a good deal".

He noted, however, that some investment analysts have given upbeat views on the country's market, such as Cohen & Steers.

This firm has suggested that between now and 2011 could be a very good time for established investors to do business there, as after that year the economic recovery will see the supply of bargains dissipate.

Mr Dell also commented that consumer confidence in Spain - which is rising despite some bad economic indicators - may be a "substantial" force that could help bring a recovery.

Last month, chartered surveyor Campbell Ferguson suggested the country could offer some very good deals for Britons, with discounts of up to 70 per cent being negotiable.

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