Spanish property to remain popular, says expert

Falling house prices in many countries - including Spain - will not prevent Britons from buying there, an expert has said.

Editor of A Place in the Sun Magazine Richard Way argued that the findings of the latest Global Property Guide showing that 17 of the 27 nations featured are still seeing values dip is only a problem for highly leveraged people who bought at the top of the market in 2007.

It is not a reason for concern "if you're looking to snap up a holiday home abroad primarily for lifestyle reasons but with an eye on long-term investment", he added, suggesting those looking for a bargain should do so now.

Mr Way predicted that Spain will remain one of the most popular places for Britons to buy a holiday or retirement home.

Countries that did see prices increase in the Global Property Guide third quarter survey included Portugal and Australia.