Spanish property market 'is entering a new cycle of maturity'
The Spanish property market has entered a "new cycle" marked by stable high prices that will steadily increase, according to an international property analysis firm.
Property Secrets said that although there has been some negative speculation over the prospects for the Spanish property market, this has largely been the consequence of a growing market with developing characteristics.
Now that the market "is already a mature one", the country is continuing to attract increasing numbers of Britons for a variety of different reasons, the company stated.
Asked whether this is predominantly in the form of emigrants or holiday home investors, Daniel R Talavera, editorial manager at Property Secrets, commented: "Both. The number of British emigrants to Spain who buy a home property is increasing. They are buying a place to live."
He also noted that some investors are looking towards eastern European countries like Romania, which could provide better returns in the short-term thanks to their rapidly emerging status.
A recent survey from the Bank of Scotland revealed that Spain is the second most desirable European property destination for Britons after France.
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