Spanish property downturn 'will provide long-term investment opportunities'
The widely-expected collapse of the Spanish property market could yield lucrative long-term investment opportunities for new buyers, according to one expert.
Although people who have invested in Spanish property over the last few years may soon find themselves without any capital gains to show for it, with an active buyers' market the result, said Jamie Liddell, property expert with Homes Overseas Magazine.
He told the Telegraph that it will soon be "the perfect time to pick up a bargain" as the market settles following its correction.
Explaining the reasoning behind the buyers' market, he said: "As the bottom falls out of the market we will see distressed sellers off-loading property for a lot less than they paid for it."
Pierre Williams from Inside Track property consultancy also told the newspaper that "quality properties in quality locations" are still likely to deliver strong returns for investors in the mid to long run.
Fears over a slump in the Spanish property market grew yesterday as some Spain-based property firms sustained losses on the stock exchange.
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