Spanish property 'can make a good long-term investment'
By Peter Mindenhall

Spanish property 'can make a good long-term investment'

Now is a good time to purchase a property in Spain if you are looking for a long-term investment.

This is the opinion of Clare Nessling, director at international mortgage provider Conti, who told This is Money the favourable exchange rate between sterling and the euro and the nation's low real estate prices have made Spanish homes attractive to British buyers.

"The Spanish market has reached a low point, so buyers are using it as an opportunity to shop for a bargain," she stated.

Ms Nessling added those seeking a holiday home or retirement property would do well to consider the assets on offer at present.

A further reason to consider the merits of owning a house in Spain could be the lower living costs in the country, compared to the UK, particularly for buyers who intend to relocate on a permanent basis.

Recently, the Post Office's Self-Catering on a Shoestring 2012 Report revealed a weekly family supermarket shop came in at £57.67 in C'an Picafort in Majorca. By contrast, purchasing the same items in Brighton in the UK added up to £89.08.
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