Spain still attracting interest from property buyers

Interest from buyers in foreign property is at its highest level since April, new research has found.

According to Worldwide Property Groups' monthly tracker confidence survey, 72 per cent of respondents believe that now is a good time to invest in overseas markets.

Spain, in particular, was considered to be one of the most popular destinations for potential purchasers.

Anyone looking to invest in the Spanish property market at the moment could find a bargain by hunting for distressed properties, which are often on the market at low prices.

Indeed, according to data from the Royal Institution of Chartered Surveyors (Rics), the number of distressed properties entering the market in Spain is increasing at a faster pace than last quarter.

Added to this, Rics warned that an even greater number of distressed properties could become available in the coming months as the interest rates on many people's mortgages are set to rise.

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