Things are looking up for the property market in Spain

The latest figures have revealed positive signs for the property market in Spain, with re-sale prices rising for the first time in 24 months.

Property portal fotocasa.es has reported a 0.6 per cent average price rise within the country, with some regions posting improvements of almost five per cent.

According to property news website Property Wire, Chris Mercer, director of Mercers property agents, said that the figures are an indication of life coming back to the market, but he warned that it still remains very price sensitive.

He continued: "If you've got a 20 per cent deposit then the rent will comfortably pay the mortgage and as you're truly buying at the bottom of the market, you have an asset that will certainly appreciate in years to come."

The National Association of Estate Agents International recently suggested individuals looking to buy property in Spain should do so in the early part of 2010.

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