Buyers in Spain happy with their investments

Almost 90 per cent of people buying property in Spain are happy with their investments, according to a report.

The survey, conducted by InspectaHomeSpain, is based on information for 700 Spanish properties constructed by 55 different developers between April 2007 and December 2008.

According to the report, buyers are now more aware of their legal rights after benefitting from advice found on forums, press articles and information packs, leading to increased standards from developers.

And with the transition from a sellers' to a buyers' market, the increased number of key ready properties available means buyers now have far more choice, as well as the scope to negotiate better contract terms.

The survey also showed that the proportion of properties being delivered more than one year later than the contracted date had been reduced to 22 per cent - offering good news for the 73 per cent of buyers who purchased properties primarily as an investment.

According to a Conti Financial Services report released at the beginning of this month, Spain remains the number one hotspot for Brits buying property abroad.