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Spanish Property Market Provides Top Value - 26 July 2011

During the last three decades, hundreds of thousands of Britons have purchased property in Spain. Nonetheless, a surplus of villas and apartments has spawned due to mortgage defaults from British buyers. By noting the declining property prices during the month of June, according to valuation and consulting firm Tinsa's latest General IMIE (Spanish Property Market Index) report, one can see the opportunity to purchase Spanish property at a low price. This is why British investors are continuing to invest in the Spanish real estate market.

Along the Mediterranean coast, the Balearic and Canary Island archipelagos are amongst the most popular tourist and investment attractions in Spain. The Balearic Islands feature Mallorca, Menorca, Ibiza, and Formentera. With its Opera House, Mallorca offers a stately and elegant experience, while King Juan Carlos’ castle sits in Palma. Menorca offers a drier climate than the aforementioned Mallorca, in addition to cool breezes. Menorca has also garnered fame for its production of leather goods and gin. Ibiza has recently improved its reputation from years past, and Formentera offers an intimate and secluded getaway.

The Mediterranean Coast offers numerous overseas investment opportunities.

From the bright lights of Benidorm to the opulence of Moraira and the resorts towns of Javea and Denia, the Costa Blanca offers a smorgasbord of options. The Costa Blanca is serviced by Alicante airport, now supplemented by inexpensive flights to Valencia on the northern Costa. This enhances tourists and property buyers’ access to the Spanish region during the year. The Costa features the Mediterranean highway, which runs alongside the coast for virtually the entire length of the Costa Blanca, enabling easy travel.

The western portion of the peninsula offers the Costa del Sol, translated as the “Coast of the Sun.” This sunny coast runs from Nerja to Gibraltar, and is frequented by tourists from around the world. Costa del Sol offers the legendary resort town of Marbella and breathtaking white architecture of Casares and Manilva.

On both sides of the Mediterranean coast, the opportunity to make a great investment at a low price has recently emerged, since housing prices fell 8.7 percent.

Despite the falling prices of property in Spain, Spain’s status as an advanced Western European country renders it a safe investment, as it continues on Europe’s path to economic recovery. As Spain will continue to have superb weather and a developed economy, to buy Spanish property would be the epitome of the much heeded advice: “Buy low, Sell high.”

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