'Mature' Spanish property market has investment potential

The Spanish property market is no longer seeing the &quotrampant speculation&quot of the past, but has matured into a steady, stable market that can be an attractive investment prospect, an industry expert has claimed.

Overseas property editor at BuyAssociation Paul Collins made the comments following the release of a survey that suggested Britons were choosing foreign property as an investment to live on once retired.

Asserting that Spanish property is still a viable investment, Mr Collins said: &quotThough the somewhat rampant speculation that went on a couple of years ago has now subsided and the market has calmed, what it has left is a market which is much more mature and, therefore, more stable that it previously was.&quot

Mr Collins added that overseas property can be a &quotgreat part of a retirement plan&quot, stating that most of the gains available will be from capital appreciation, while rental yields can cover any costs.

Spain is likely to remain popular with retirees thanks to its favourable climate and close proximity to the UK.

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