Low cost Spanish property now top request

Article Date : 28 November 2012
News Section: Spain

The number of people looking for low cost Spanish property is increasing, with the financial crisis making real estate in the country more affordable than ever.

According to the Spanish Brick, in the last two months 52 per cent of property enquiries for Spain have been from people with a budget below £75,000.

Some 21 per cent of inquiries had a maximum spend allocation of £150,000, while just nine per cent had a budget of between £150,000 and £250,000.

This is the fourth year of falling property prices in the country and in some areas the market has already hit rock bottom.

While not ideal for those looking to sell their home, for buyers the condition is ideal, enabling people to invest in homes previously out of their price range.

Nevertheless, the rules of property buying still apply and investors must ensure they have finance in place and invest in a location that is attractive for the rental market.