Spanish housing market attracts British first-time buyers

The Daily Telegraph published an interesting article this week about the increasing number of British first-time house buyers who are turning to the Spanish housing market to purchase their first home.

According to the results of a study carried out by Datamonitor, young people who want to invest in property but are priced out of the property market at home, are buying property in Spain in areas where house prices are still relatively low, in the hope that when the the area gets more popular and housing prices start to rise, they will be able to sell the house, and use the profit to put a deposit on a house in Britain.

The Telegraph article goes on to mention the dangers of investing all your money in a house in Spain in the hope of reaping a handsome profit with a resale, and quotes reports by the OECD stating that the market was over-valued.

Related links:
Housing market growing on Spain's Costa Blanca

Daily Telegraph article