Government encourages people to buy Spanish property
A representative of the Spanish government has encouraged people to consider buying property in the country.
According to housing minister Beatriz Corredor, property values in the country are going up in line with the IPC inflation rate.
Speaking to TVE, she said the current problems in the Spanish market have arisen partly because supply is exceeding the level of demand.
Therefore, she has urged property vendors to adapt to current market conditions and adjust their prices accordingly.
If sellers respond positively, this could allow overseas property buyers to snap up a bargain property in Spain.
Ms Corredor commented: "Now is the right moment to buy a flat or house."
She added that there are currently between 600,000 and 1 million vacant properties across the country.
Spain is already a highly popular destination for property buyers from the UK.
According to the Association of International Property Professionals, the country accounted for more than a quarter of the overseas property sales to Britons last year.
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