House price correction in Spain

A recent update on the Spanish property market shows that asking prices continued to decrease during the past quarter when compared to the last few months of 2011.

Average asking prices for Spanish property on a national level stood at around E257, 000 at the end of last year - by the end of March 2012 this figure had dropped to E252, 000 and most residential property specialists expect prices to bottom out during the remainder of the year.

Property investors from Eurozone countries where the economy remains strong such as Belgium, Denmark, Holland & Sweden are expected to regard Spanish property as a worthwhile long term investment while house prices remain low.

Brits looking to buy a property in Spain for holiday use are being drawn to cheaper properties located in the Murcia region where apartments and villas can be bought for a fraction of those located in Mallorca and Marbella, this district also has the added bonus of the new Paramount Theme Park to look forward to