Spanish property currently "good value for money"

Spanish property is "good value for money at the moment", according to experts.

Recessions may be continuing in Europe as summer draws to a close, but with prices down, Spanish property is far more affordable, says Loxley McKenzie, Managing Director of Colordarcy.com.

"Property in Marbella and other popular resorts in Spain used to be expensive," says McKenzie. "For many it was little more than a dream to be able to afford properties close to the beach in these resorts... Many of those who did invest towards the end of the boom will find themselves waiting several years for make a return on their investment, however for those people who decide to invest now that sea view and morning run on the beach may now be within reach for an increasing number of investors."

This, she explains, is due to 3 reasons: Spanish banks are allowing 100% finance on certain property developments, the value of the Euro has declined more than any other major currency apart from the Yen, and Spanish property prices have fallen to levels 60% below their peak in some areas.

So according to Colordarcy, not only are the banks encouraging property investors to invest in Spanish property and help them reduce their losses, the economy in Europe is actually lending a helping hand by deflating the value of the Euro.