Spanish property market expected to improve
By Danny Bance

Spanish property market expected to improve

Some sectors of the Spanish real estate market will begin to recover in 2012, it has been claimed.

Marc Pritchard, sales and marketing director at Taylor Wimpey de Espana, explained that property prices in prime locations had already stabilised in 2011 and this trend is set to continue into this year.

He added, in many cases, the value of homes in the most sought-after destinations has hit rock bottom, with positive growth now likely.

However, Mr Pritchard warned buyers to be cautious when looking at inland properties, as such assets in undeveloped locations may see a further drop in price during 2012.

A recent report published by Assetz suggested investors should avoid making a purchase in an area where there is significant oversupply, as this could affect the amount of rental income a house can generate.

Mr Pritchard does not believe the level of rent will necessarily be a primary concern for many potential purchasers, though, as he has predicted a rise in the number of lifestyle buyers entering the Spanish real estate market in search of a second home.

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