House prices continue to fall across Spain
UK property owners planning to buy a holiday home with guaranteed sunshine without breaking the bank are well advised to look for a property in Spain.
According to several leading Spanish property experts increasing numbers of home owners across the country are cutting the asking price in an effort to attract potential buyers. Experts agree that residential real estate is still hugely overpriced in general and this includes the massive stock of foreclosure properties that are now bank owned and before the market can begin to recover house prices need to decrease some way yet.
British buyers with the cash to splash are in a better position to negotiate on asking prices and with the pound gaining strength against the euro the savings are even greater.
The Eurozone financial crisis is set to run for some time yet and Spanish property observers believe that property prices will decline further in the months ahead.