"Great deals" available in Spain"Great deals" available in Spain
Now is a good time for investors to be looking at opportunities in the Spanish property sector, according to a market expert.
Spain's housing market has been badly affected by the credit crunch and with the supply of homes now outstripping demand, prices have stalled.
In fact, a recent report by Global Property Guide suggested property values in Spain fell by 0.44 per cent during the 12 months ending March 31st 2008.
Paul Collins of property advice website BuyAssociation said that investors should not see that as a bad sign.
He explained that when confidence in a property market falls, bargains become available to people who are in a position to move quickly.
"There are some great deals available in Spain, some fantastic deals in Florida and some of the other markets are likely to follow suit," said Mr Collins.
He added that anyone thinking of taking advantage of current market conditions should focus on finding a good deal at a "top-class development" because such properties are likely to prove easier to resell.