Property in Spain 'a bargain at present'

Property is Spain is becoming increasingly affordable at present due to a large number of repossessions, according to propertyinspain.net. The credit squeeze, which has affected many in the UK has also had an impact in Spain and investors are reaping the benefits.

There is said to be a "nice steady supply" of property at present, with great opportunities for those seeking a way in to the buy-to-let market. And the country's economic growth is also expected to boost values in the near future. And since Spanish banks lend on the value rather than the asking price, there is scope for 100 per cent mortgages when repossessed homes do not represent their true value.

Terry Walker, spokesman for propertyinspain.net, said: "There are properties for about €30,000 but spend the same again and you've got a lovely family house in the middle of a village. They will rent very well."