Spain 'tailor-made for cash buyers'

Spain is currently offering a range of bargain deals for cash buyers, an expert has said.

Speaking to the Daily Mail, director of research and buying agency Property Finders Barbara Wood said many places had seen prices fall between 30 and 35 per cent below their peak level in the boom.

She listed places such as Murcia, Torrevieja and parts of Almeria as having seen such a drop.

However, she noted, it is cash buyers who are mainly taking advantage at present as it is hard to get a mortgage at a loan-to-value of over 80 per cent at present.

Ms Wood advised that those who are buying should avoid places on the "periphery" of popular areas, as these will take longest to see their prices recover.

Instead, people should stick to locations that have been favoured destinations for up to 40 years, she advised.

Last week, Martin Dell of Spanish property portal Kyero.com said the market in the country has reached its bottom.

As a result investors should now come back in large numbers, he suggested.

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