Spanish property prices could make an attractive investment

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The recent debt crisis in Europe has significantly damaged the euro, sending several nations into near bankruptcy. Despite this, investors are now looking at Europe in a totally new light, with particular focus on the Spanish property market.

The Spanish property market is now open to investors who are keen to bag a bargain. Whilst some may be more cautious and may be looking to move their money outside of Europe, others see the downturn in the value of the euro as an opportunity to snap up properties whilst they are at their cheapest.

The current situation in Europe is not great and there is mounting pressure from the international community to have the issue resolved as soon as possible and the fate of the euro secured.

With the pound currently standing at a 16 month high against the euro, British investors could be encouraged to look into the Spanish property market.

Industry experts believe that prices in Spain could continue to fall, encouraging investors to move in.

Santander, the Euro-zone’s biggest bank, recently reported a sharp drop in profits after money has been set aside to rescue the Spanish property market.

The Spanish economy looks set to slip into recession this year after contracting for the first time in two years, according to a report by Reuters.

The Spanish property market has suffered at the hands of bad loans. Banks and lenders in the country have been warned that they need to find an additional €50 billion to cover the cost of bad mortgages and housing loans.

Transfer Money to Spain

If you are looking to invest in Spain, think carefully about how you will be transferring money to Spain.

Foreign currency exchange rates quoted by banks are usually worse than the exchange rates available through specialist currency dealers.

If you are sending money to Spain - which you will inevitably have to do if you are looking to make a property investment - be sure to compare the market before you purchase your overseas currency.

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Spanish property prices could make an attractive investment

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