Development minister to promote spanish holiday homes

Five European countries will be visited by Jose Blanco, Spain’s Development Minister, in an attempt to promote Spanish holiday homes to potential foreign investors.

Many European buyers left the market after 100,000 illegal homes were built during the country’s housing boom. The threat of demolition by regional governments has done little to help the market and it is estimated that around 1 million homes lie unsold in Spain.

The first stop on his tour will be London on 4 May, to be followed by France, Germany, Switzerland and the Netherlands. He will also visit Russia later on in the year.

He hopes to encourage the sale of existing holiday homes by selling the strength of Spain’s economy and the transparency of its housing market.

Source: HolidayLettings.co.uk