Friday, May 28, 2010

Estate Agennts Buying Repossessed Spanish Property




An increasing number of property agents are taking advantage of the cheap prices available in the Spanish rental property market and buying real estate, Overseas Property Professional has reported with Costa del Sol property being especially sought after.

The news provider, which conducted some research on behalf of Crest Group International, found that repossessed property in the destination was proving to be popular with agents.

Ian Waudby, head of the group, told the news provider: "There is clearly a high level of interest back again.

"There is a lot of demand but several parameters have to be just right for the sale to work, from finance to the legalities of the sale."

The news comes at a time when the Spanish economy remains in a dire state, with concerns still present about its national debt.

It could lead to an increase in the number of individuals looking at property for sale in Castille-La Mancha, with the region boasting a warm Mediterranean climate.

According to the Association of Independent Tour Operators, Spain is poised to become the top holiday destination for Britons this summer.

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