Spanish Property Market banking on the Costa del Sol

The Spanish property market has suffered heavily as a result of the global recession. The poor exchange rate for British buyers and allegations of illegal developments have had a negative impact on a country that has for many years been the most popular choice for Brits looking to buy a holiday home overseas.

The reduced demand has however led to market prices falling in popular areas such as the Costa del Sol and the Costa Blanca.  The discounts now available on holiday villas and apartments could help to attract buyers back to Spain with the appeal of being able to snap up a bargain.

In some areas of the Costa del Sol estate agents are reporting market prices equivalent to those on offer in 2004. One online property portal, Rightmove, have recently reported that enquirers for Spanish holiday homes have begun to return to the levels experienced in 2007, accounting for 20% of all online searches. However sales in the area are still steady as buyers appear to be spending more time researching to find the best deals.