Spain's property market 'is suffering'

Interest in Spain's property market fell significantly during the second quarter of this year, compared with the first three months, it has been revealed.

According to data published by PrimeLocation.com, searches for real estate in Spain showed a 24 per cent decline during this period.

Property analyst at the organisation Nigel Lewis warned that there may be further problems for the country's housing sector.

"The intense speculation as to whether Spain and Italy will be the next casualties to arise from the debt crisis is in itself enough to force these sensitive property markets into further decline," he stated.

However, there are still some regions of Spain that could be attractive to investors.

Last week, Taylor Wimpey de Espana highlighted the Balearic island of Mallorca as a good option for those seeking real estate in the Mediterranean nation.

The firm commented that the island's climate, natural attractions and world-class events attract those looking for properties in Spain, while prices in the area have remained well above the national average.
 

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