Traditional destinations like Spain likely to benefit from the economic climate

An increasing number of property investors are returning to traditional and established destinations in light of the current economic climate.

A new survey conducted by HomeAway.co.uk has revealed that this coming year the property market is likely to be dominated by "cash-rich, lifestyle buyers" looking to capitalise on lower prices in popular destinations.

Among the countries likely to benefit from this influx of investors is Spain, where huge discounts and reduced prices are giving canny buyers the opportunity to pick up a bargain.

Charles Weston-Baker, head of Savills International, said: "In 2010, the overseas second home market will be characterised by cash-rich, lifestyle buyers benefiting from lower prices in traditional, established holiday home hotspots."

Meanwhile, the HomeAway survey also found that the attraction of overseas property is still present for many individuals, with a fifth of those questioned claiming that they planned to make additional purchases in the future.

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.

Like this? Then share with your friends and colleagues!