Investors with private wealth looking for real estate bargains should consider Spain

Investors with private wealth looking for real estate bargains abroad may like to consider buying property in Spain.

That is because the country has experienced a fall in house prices, meaning investors can purchase a property at low cost and rent it out to tourists or sell it when the market improves.

Adrian Warriner, managing director at Spanish-Living.com, which offers information on living in the country, stated that house prices were stronger on the Canary Islands and Balearics.

This is good for those who already have a property in the area but not for Brits with private wealth looking for real estate bargains, he explained.

"The biggest price drops have occurred in coastal areas, like the Costa del Sol, where the buyer really is spoilt for choice," Mr Warriner said.

"Here, average prices have dropped by ten per cent over the past year."

Another region that offers real estate investment opportunities is London, as demand for property in the capital is always in high demand, it was suggested by Ed Mead, director of Douglas & Gordon.

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