Prices of Spanish Houses Fall, Government Attempts to Attract Buyers
20 December 2010
The average price of Spanish property for sale is becoming even cheaper, and economists predict that this trend will continue into the future. Spanish house prices saw a decrease of nearly 2.2 percent in the third quarter of last year, according to a report by the National Statistics Institute. This is the biggest drop since early 2009. There was a reduction of 1.8 percent for the year overall.
The abundance of cheaper properties in Spain has enticed many to take out overseas mortgages and invest in holiday homes. Spanish property for sale has always been one of the most popular choices for those looking for holiday homes in Europe, and the current economic situation will only add to its Spain's dominance in this area.
Also, the Spanish government is setting out a number of new measures aimed at attracting overseas property investors. Jose Blanco, Spain's Minister of Development, has realized that Spain's property market needs his support and will be changing Spain's approach to property rights and improving the legal protection for those investing in Spanish property for sale. Blanco will be holding a number of international press conferences to address investors, provide them with information, and win their confidence. Also, he proposes building more of the types of homes that overseas investors are looking for. These new initiatives from the Spanish government will ensure that there are many options for quality homes in Spain, and that acquiring them is as easy as possible.
With its warm climate, delicious food, and fascinating culture, it's easy to see why buying property in Spain tempts so many people. With the lowest prices in years on Spanish property for sale, and the government pushing to make the deal sweeter, investing in a holiday home in Spain has never been a better idea.
For more information on Spanish Property for Sale, contact the experts at Select Resorts!