Property bargains in spanish recession

The property bargains are likely to continue in Spain , now one of the few Eurozone countries still in recession after it emerged that the Republic of Ireland has seen a return to economic growth...

Fresh figures revealed that Ireland's Gross National Product (GDP) increased by 0.3 per cent in the third quarter of this year, while Eurostat figures for Spain revealed a 0.3 per cent decline.

Spain and Greece are now among the few users of the euro still in a downturn, while the UK is the only G20 country still in recession.

Those keen to invest in the Spanish real estate sector may wish to take advantage of the lower prices and many Spanish bank repossession property evident greater weakness of its economy to pick up bargains in 2010. Hard pressed developers are offering big discounts on key ready homes.

However, those hoping for a Spanish economic turnaround to help property investments gain in value will have noted that this fall followed declines of 1.1 per cent, 1.3 per cent and 1.1 per cent in the previous three quarters.

Google's top ranked online source for Spanish bank repossessions is PropertyInSpain.Net who report increased interest in bargain property priced below EUR 125,000 in Costa Blanca south and above EUR 850,000 in Ibiza and selected areas of the Costa del Sol.

Source: www.propertyinspain.net