Spanish property market ‘looks bright’

Despite a number of indices suggesting that prices are falling and oversupply is having a negative impact on the sector, one firm has offered a positive outlook for the Spanish property market.
"In Spain things are looking very bright," Dr Dennis Coote, founder of The Hampshire & Home Counties Property Networking Club, said.
"Prices are not going up very fast, but there’s a very lively atmosphere. I don’t see any evidence of people being hard up here, honestly. It’s very much [a vibrant market]," he explained.
His comments follow the publication of new research by the Royal Institution of Chartered Surveyors into distressed property listings.
According to its Global Distressed Property Monitor, Spain has seen one of the largest increases in foreclosed property anywhere in the world, with the firm only expecting the number to increase.
Indeed, in the coming three months, Ireland, Spain, Hungary and Italy expect the highest numbers of distressed properties to come to market, while Russia, China, South Africa and Poland expect the lowest.