Spanish property 'could see more price falls'

Spanish property could be set to see more major drops in value, a Spanish real estate website has suggested.

Kyero.com noted that, according to the latest Tinsa survey, the annual fall in values across the country was 8.3 per cent in September.

It said this was less than previous months and could represent a levelling out of the market, but might equally be a hiatus before a fresh downward turn.

Such a situation occurred in coastal areas, which saw the largest drop in September at 11.5 per cent after a couple of months of stabilisation, the Portal commented.

Dips in price could be good news for those keen to snap up bargain rental properties on the Costa del Sol.

Spain was recently pinpointed by chief executive of real estate firm Assetz Stuart Law as an ideal one in which second-home seekers could get their hands on a cheap property.

He commented: "There is massive choice and also some very good pricing."

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