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Take your time when buying in Spain, says BuyAssociation - 01/02/2008

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Investors keen to buy a property in Spain would do well if they take their time deciding about where to purchase, according to an industry observer.

Paul Collins, property editor at advice portal BuyAssociation, suggested the local market is undergoing changes and that while good deals are still available, "investors have to select their project a little bit more carefully".

Instead of opting for the Costa del Sol or sea-view properties, investors could benefit from opting for something a little bit different, he advised.

Murcia is one such "up and coming" area that is gaining in importance because of the opening of a new international airport in the region, Mr Collins noted.

Similarly, investors are opting for properties in university towns that can be let to students. These are examples of opportunities that are "slightly different" but still good options, according to the commentator.

Mr Collins said supply in the Spanish property market is strong at the moment, so investors should not "feel rushed in trying to get the best deals".

"Back in the days when it was a speculator's market and prices were going up every week, then you may have had to be a bit quicker but now you can take your time a little bit more," he concluded.

Foreign residents make up some 2.8 million of the Spanish population, according to Property Showrooms.

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