Wise buys in Spain

Spain has been written off many times of late. The market, many have said, is a busted flush, a one-time hotspot which has now seen the boom fade away and companies that depended upon it folding. Other locations, it has been claimed, are now offering far better prospects.

But is it as simple as that? Not quite, according to Paul Collins, property editor at investor magazine BuyAssociation. He said the situation was certainly no longer one in which buyers could seek out property in a carefree way in the knowledge that anything bought near a beach could make a quick profit. Now, he suggested, this situation has changed to one where there are still good deals to be had, but those looking to invest in Spanish property must be more discerning.

He commented: "Investors have to select their project a little bit more carefully. Rather than buying anything that's on the Costa del Sol, or anything with a sea view, you have to be a little but more intelligent."

Such an intelligent move, he advised, would be to buy in Murcia. "Have a look at up-and-coming cities - places like Murcia property Spain, which is becoming much more important because of the new international airport that has just opened." To this he added that university towns might be a good location for investors, where buy-to-let for students is an obvious prospect.

Furthermore, he stated, the change in the market meant that potential investors had much more of one important commodity - time. Mr Collins advised that peoples should take theirs in making decisions. "There are a lot of properties for sale in Spain at the moment so there is no need to feel rushed in trying to get the best deals," he noted, concluding: "Make sure that the property you find is exactly the right one for you."

This advice may be applied in many locations where new developments could boost prices. Murcia and its airport may be just one. There is also the prospect that Malaga and Barcelona could both gain from the proposed high-speed rail link between the two cities, which will speed passengers between the two without obliging them to change trains in Madrid. Instead, the new line would bypass the capital.

Investors may also, of course, look at the long-term prospects of their property. New figures suggest that this is somewhat favourable in the Spanish case. The Bank for International Settlements, a Swiss institution, published a study which showed that between 1970 and 2006 Spain enjoyed average house price increases of 3.95 per cent, second only behind the UK in a list of 18 leading industrialised nations, Finfacts reports.

The figures show that during that time Spanish prices have had five downturns, the last being between 1992 and 1998. Yet that was the period which preceded the recent boom years. It may just be that those who invest in Spanish property when things appear a little leaner now may reap the benefit a few years down the line.

In today's world Property investment is an excellent investment option especially investment in UK