Spain tipped to bounce back

The property market in Spain could be on the brink of a recovery, it has been suggested.

An article in Spanish newspaper El Mundo has commented that the market may be displaying the same nascent signs of recovery some have detected in Britain, the US and France, with all these markets bottoming out, Spanish property portal Kyero.com reports.

The piece stated: "It appears to be the beginning of the end of the worst period for property sales since the crisis began."

Kyero.com also noted a report by Professor Gonzalo Bernardos, a property expert at the University of Barcelona, who listed five reasons for optimism about the market in 2009.

He said lower interest rates, lower house prices, more bank lending, increasing investor numbers and a return of those who have been renting to the buyer market will all ensure a better year than 2008.

One factor that may help grow the Spanish property market is further development of its ski resorts.

Information manager at the Ski Club of Great Britain Alyn Morgan said last week that a combination of more investment and a higher profile has been combining to increase its profile among Britons.

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