Demand for property in Spain 'increasing'

The demand for high-quality property in Spain continues to increase, according to one sector expert.

Paul Bradley, a spokesperson for the Spanish Property Owners Guild, says that the need for these homes will continue to rise in the coming months and years as interest returns with British investors.

According to the specialist, the days of people buying property in Spain before it is built may now have disappeared, as overseas investors prefer to see the finished article before they part with any capital.

"Completions for top end second-hand properties continue to plod on with prices now at the bottom … and the wealthy seek to take advantage," Mr Bradley explains.

He concludes that once a property in Spain has interest from multiple buyers, its value will begin to soar.

Primelocation.com recently reported that the market for property in Spain was the most popular in the world in May 2009, with over 30 per cent of all searches being for homes in the country.