Investors 'drawn to property in Spain'

Potential investors in overseas homes are being drawn to property in Spain because of the bargains on offer in the country, a specialist states.

Robin Wilson, head of overseas at Rightmove.co.uk, says property in Spain is "maintaining its attraction" to people from the UK, as the market is showing signs of stablising.

After the latest report by Tinsa revealed that the price of buying a property in Spain has fallen by 10.1 per cent in the past 12 months, he says it is no surprise that those looking for a good deal are making the trip to the Mediterranean.

"Spain retains its image as expat friendly with a strong English influence, good legal infrastructure and the stability of being part of the European Union," Mr Wilson explains.

Currency Index recently reported that the average two-bedroom apartment in the Costas in Spain is now 30 per cent cheaper than a year ago, which may appeal to potential buyers.