August 20, 2008

Property crash in Spain

Spain has long been the retirement choice for many Brits who have worked hard all of their lives and decided that it is time relax in the sun. However, as the coasts of Spain over the past twenty years have been inundated with investment properties, which has flooded the market.

But now the Spanish authorities are bringing in new property laws, this couple with the credit crunch and the fact that many of the properties over there are on finance, this has all the hallmarks of a property crash waiting to happen.

The question is when is the crash going happen? Soon is the general feeling, but it will not necessarily be a disaster for the retired or holiday home owner, it is the investors and property developers who will be hit hard and of course eventually the Spanish the property market will recover eventually.

Source [Investment Property Rumours]