Europe looks to Spain's Property Market - Emerging Real Estate

Europe looks to Spain's Property Market

07/11/2010

 Europe looks to Spain’s Property Market

More good news coming out of Spain this week as the latest figures indicate the property market is really beginning to pick up in the country.

The latest statistics show that property sales jumped by 29.6% during August 2010 compared to August 2009. A lot of these sales involve distressed properties coming on to the market in droves. Property insiders believe this will act as a trigger to improving confidence in the market.

One insider admitted that “Confidence in the halls of government and the Bank of Spain is being echoed by many British buyers who are aware that the market for prime property has bottomed out. Although there is still a degree of caution in a purchase of such a scale, those who have sat on the fence for the last couple of years are now keen to push ahead with their home buys in order to make the most of the reduced prices.”

Couple this with the encouraging news that unemployment in Spain actually fell for the first time in three years during the third quarter of 2010. One of the hardest hit countries in terms of unemployment during the recession, this welcome news does seem to indicate that Spain can at least hope to try and get the country back to the highs experienced before 2008.

Here at Emerging Real Estate we are constantly following the good news stories emanating from Spain as the country’s property market continues to act like a beacon in the European economic climate.

For more information on purchasing property in Spain, or to request some more information on the properties we offer, please do not hesitate to get in touch.

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