International mortgage customers could look to Spain

Fri, 19 Aug 2011
International mortgage customers are likely to find that the incentives for buying in Spain increase in line with competition, it has been claimed.

According to BuyAssociation, a growing number of Brits are looking into the cut-price deals on offer, while the number of reasons to purchase a holiday home there is also rising.

A lot of people are keen to take advantage of some great bargains, including those partly financed by builders, explained editor Paul Collins.

"Competition for buyers continues to increase, so it is likely there will be more incentives to tempt purchasers through the door," he said.

"The best response from buyers at the moment seems to be for 100 per cent finance schemes, which may be part-funded by the developer, and for high-end premium property."

Meanwhile, the latest figures relating to the Spanish property market show that sales were down 26 per cent year-on-year in June at 24,699 - a 60 per cent decline on 2007's data.

Furthermore, transactions were down 11 per cent for the year-to-date in comparison to the first six months of 2010.
 
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