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Tuesday, October 31, 2006 

Spanish property "dented" by Eastern European market

A growing number of investors seeking to buy property abroad are searching in new locations in Europe at the expense of Spain, according to experts.

Mark Stucklin, head of spanishpropertyinsight.com, says that new developments in Eastern European markets, such as Bulgaria, have "dented" the "overall demand" for property in Spain.

However, the firm argues that the majority of off-plan-investors have left Spain and have chosen to develop property in Bulgaria, increasing the demand for speculative investments in the country rather than houses.

Questioned whether would-be holiday home owners ought to consider Spain over Eastern Europe, Mr Stucklin said: "You get what you pay for and Spain has by far the better climate as well as fabulous resources, in terms of infrastructure and leisure facilities.

"In Bulgaria they are far away from offering any comparison."

A recent report by Assetz revealed that investments in British property were more likely to deliver higher returns than in Bulgaria which no longer offers "instant gains".

Source: London Stock Exchange

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