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Spain: The fight-back begins

Thursday, July 03, 2008

Spain's Housing Minister has made a bold prediction about the future of country's housing market.

Spain is currently going through a hard hitting credit crunch and property prices have fallen through the floor in many regions. However, in an address to the Senate this week, Spain's housing minister Beatriz Corredor remained highly optimistic.

She stated: 'Forecasts by international and national organisations, as well as the government, point to an economic and property sector recovery beginning in the second half of 2009".

Ms. Corredor had previously revealed her optimism earlier in June, when she stated that Spain ‘is currently an excellent market for buying property as there is no short supply and investors can get themselves a good bargain'.

Paul Collins of BuyAssociation reinforced her view: "Investors who are in a position to move quickly should take advantage of the slow down and secure the best possible deals on properties in Spain".