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Spanish property investment 'still good'

23 February 2006
Property experts are encouraging investors to buy Spanish property, rather than shunning it for increasingly popular eastern European purchases.

Spanish property experts said that buying houses in the country could still offer good capital growth, stability and rental returns, which eastern European property purchases do not offer.

The current sentiment among overseas property investors is that the Spanish property bubble is about to burst, following its 17.2 per cent house price rise in the first half of 2005.

However, some property experts disagree with this general feeling.

Jason Windle, managing director of Spanish property firm Platinum Properties, said: "Even though there is talk that the Spanish property market has reached its peak, it is still catching up with the English market.

"I strongly believe that it has a long way to go and we may still be only mid-way through the property boom."

Mr Windle pushed the benefits of buying property in Spain, saying that the country has "excellent" health services and quality of life and has become a hotspot for those looking to emigrate or retire overseas.

Terry O'Connor, business development director of overseas property company The Superior Group, said that mortgages in Spain are easy to obtain, making it an even more viable option for overseas property investment.

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