Investors tempted by continual falls in Spanish property

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The Spanish economy has been severely affected by the eurozone crisis and recent reports have shown the value of property in Spain is continuing to fall. In the last year, the price of residential property in Spain has dropped significantly.

An IMIE General Index has been provided by TInsa, an initiative to show property housing values in Spain, which revealed a decline of 12.5 percent in April 2012 in comparison to the previous twelve months.

The decline is said to have been influenced by the major cities in Spain which have had a year-on-year fall of 13.7 percent.

While property in cities across Spain have contributed to the continued drop in housing prices, many towns along the Mediterranean coastline have also performed badly in terms of property sales throughout this period.

The greatest decline in any area of the Spanish property market has been reported throughout the year to April 2012.

A drop of 14.3 percent in property prices in the area was recorded by the index, which is almost two percent higher than the national average.

Many experts have stated that the current conditions suggest it is the right time for many to buy a home in Spain, especially because the exchange rates between the UK and the euro are so favourable.

Transfer Money to Spain

If you are thinking about investing in Spanish property, it is definitely a good idea to consider the logistics of transferring money abroad.

The various financial options open to potential buyers of Spanish property will need to be carefully considered as there will be a range of rates for UK buyers to review.

So, if you will be transferring money to Spain (which is inevitable if you are looking to make a property investment) be sure to compare the market before you finalise your choice of Spanish mortgage.

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