Spanish property investors to have 'bulk-buy' opportunities in 2011

Overseas investors planning to buy Spanish property next year will be able to acquire a number of assets in single, reasonably priced deals, it has been suggested.

Greg Butcher, founder of the Fairhomes Group, argued that the current economic climate in Spain will force banks and other property holders to regroup and re-price their assets at more realistic levels.

Speaking to Overseas Property Professional, he said: "Just like in Ireland where NAMA (The National Asset Management Agency) is selling any assets it can to get cash, the cajas [regional savings and loan banks] in Spain will have to sell at more realistic prices and in bulk.

"One-off individual sales will be no use to them by then. And that is where overseas property companies can move it and acquire large-scale deals for good prices."

Mr Butcher added that prices in Spain's repossessed housing stock would now come down from previous, "artificially high levels" as a result of the economic situation.

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