'Right time' to book cheap flights to Spain and buy property
18
Aug
2009
Jet2Flights@ 04:56 PM
People looking for a budget holiday-home should book cheap flights to Spain and browse the property market.
The Spanish Property Owners Guild has pointed out that now is the right time to look for accommodation in the country.
Paul Bradley, a spokesperson for the organisation, explained prices are falling because of the high number of unsold new apartments, coupled with the reluctance of Spanish lenders to provide mortgages.
He said: "For cash buyers, the time is certainly approaching to start looking to get into the Spanish property market."
Mr Bradley noted there are many distressed properties available, which could be purchased at a 30 per cent discount, which may be good news for those booking cheap flights to Spain in search of a low-cost holiday home.
House price statistics produced by TINSA in August demonstrated a 9.2 per cent drop in the cost of property compared to the same month last year.
The Mediterranean Coast was noted to be one of the cheapest regions to purchase homes, with a decrease of 10.9 per cent since 2008.
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