Property Bargains in Spain and Majorca

Property bargains in Spanish recesssion

By Sue Brown, Dec 2009

The property bargains are likely to continue in Spain , now one of the few Eurozone countries still in recession after it emerged that the Republic of Ireland has seen a return to economic growth.

Fresh figures revealed that Ireland's Gross National Product (GDP) increased by 0.3 per cent in the third quarter of this year, while Eurostat figures for Spain revealed a 0.3 per cent decline.

Spain and Greece are now among the few users of the euro still in a downturn, while the UK is the only G20 country still in recession

Those keen to invest in the Spanish real estate sector may wish to take advantage of the lower prices and many Spanish bank repossession property evident greater weakness of its economy to pick up bargains in 2010. Hard pressed developers are offering big discounts on key ready homes.

However, those hoping for a Spanish economic turnaround to help property investments gain in value will have noted that this fall followed declines of 1.1 per cent, 1.3 per cent and 1.1 per cent in the previous three quarters.

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Villas FOR SALE in Spain and Majorca

Article Reference: propertyinspain. net/news/2009/12/spain_recession/

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