Looking into Spanish Property Development?
Spain is one of the most beautiful places in the world and home to some of the finest developments and resorts in Europe. If you are thinking about investing in Spanish property development then now is the perfect opportunity to do so!
Although Spain is probably not as good a choice as Turkey for property investment this year, experts are still predicting that in 2011 the Spanish property market will become flooded with distressed and repossessed properties, which could provide some good opportunities.
New rules that were introduced in September 2010 are forcing banks to be much more upfront about their seized assets, as a result they must write down the value of all two-year-old real estate assets by at least 30%.
The situation in Spain appears to show that Spanish banks have hundreds of millions worth of bad loans on their books and with the recovery underway in the UK there is sure to be an opportunity or two to be seized! However, any forays into the Spanish property market should be very seriously considered from all aspects before making any rash decisions.
So if you are thinking about investing in Spanish property development make sure to do your homework first and seek sound a financial and economic advice because nothing is certain in these stormy economic times.