Turbulence in Spanish property market

Conditions in the Spanish property market are turbulent at the moment, although some parts of the country are faring better than others.

That is according to Mark Stucklin, head of spanishpropertyinsight.com, who said that situation in the market was "pretty difficult", with the best prices "stagnating" and potentially set to decrease.

He went on to say that Ibiza and Menorca were among the areas that were doing better, although even these markets had cooled off somewhat.

Mr Stucklin commented: "The situation is pretty difficult in the Spanish property market and that is affecting all areas, but some in greater measure.

"In general the areas that are doing better, or those that have managed to maintain a more upmarket positioning with less off-plan investment type products, are the Balearics, Majorca, Menorca and Ibiza."

Spanish mortgage volumes increased by 15 per cent in 2007, according to a report released by the Spanish Mortgage Association (AHE) earlier this year.

Overseas Property News posted on 18/04/2008 09:15:08