Spain 'could offer property bargains'

Buyers are likely to continue purchasing property in Alicante and other parts of Spain over the next 12 months, a report has claimed.

According to the Sunday Times, emerging and unfamiliar markets are likely to be shunned by overseas property investors in favour of familiar favourites like Spain.

With the booms of recent years swept away by the effects of the global economic crisis, property markets around the world are shrouded in uncertainty.

But Spain could provide a number of bargains, with the newspaper noting that prices are continuing to drop as a result of the current glut of unsold homes.

Homebuyers are also likely to be tempted by the country's climate and relaxed lifestyle, which make it a favourite with British buyers in particular.

This follows a recent report by Taylor Woodrow de Espana, which claimed that the negative press afforded to the property market in Spain had not deterred buyers who were still attracted by the nation's lifestyle attractions.