Released on: December 11, 2007, 8:34 am

Press Release Author: Jim watson

Industry: Real Estate

Press Release Summary: Repossession is never good news in a housing market, which
depends to a large extent on the confidence of consumers that they will be able to
make their spanish mortgage

Press Release Body: Repossession is never good news in a housing market, which
depends to a large extent on the confidence of consumers that they will be able to
make their spanish mortgage payments and hang on to their bricks and mortar. But is
there is a silver lining for those investors who can pick up the properties which
emerge?

The answer is an emphatic yes, according to spain real estate sellers
propertyinspain.net . Spokesperson Terry Walker said the situation in Spain was that
the number of repossessions was rising due to the comparatively high (four per cent)
euro rate set by the European Central Bank (ECB). As in any market, an increase in
rates and its consequent effect on repayments had raised the number of
repossessions.

Fortunately for potential investors looking to snap up freshly vacated property,
these tended to be in areas which, while inland away from the traditional coastal
areas of property investment, had good economic prospects and were ripe for
buy-to-let, Mr Walker stated.

He said: \"People are coming in with the new IT and logistics industries and they\'re
moving around for their new jobs, they\'re moving to a new area and they\'re looking
for somewhere to rent.\"

Moreover, he noted, these were available at good prices: \"There are properties for
about 30,000 euros but spend the same again and you\'ve got a lovely family house in
the middle of a village. They will rent very well.\"

Mr Walker stated that properties which have been repossessed usually get sold at
auction, although some were being sold through websites such as his. \"There\'s a nice
steady supply, there\'s not a flood yet and that\'s good,\" he commented, noting that
this increase in repossessions by no means represents a property market collapse. He
predicted this situation would last around 18 to 24 months.

While the Bank of England cut rates today and the US Federal Reserve may do so next
week, the ECB chose today to keep the eurozone base rate at four per cent, signaling
a determination to fight an inflation rate currently running at three per cent
despite signs of a slowdown in the zone\'s economy. ECB president Jean-Claude Trichet
signaled that this high rate may have to stay in place for some time, saying: \"The
period of comparatively high rates of inflation will be somewhat more protracted
than previously expected.\"

If this is the case, the market in repossessed property in Spain may continue to
offer opportunities for buy-to-let investors. At the same time, Spanish Property
Insight recently quoted Rafael Pacheco, head of the Spanish government\'s
architecture and housing policy unit predicting that Spanish property values would
finish this year four per cent higher than last. Thus Spain\'s property market is not
seeing a crash, but there will be casualties. The key for investors is to see an
opportunity where they may not have looked before.

In today\'s world Property investment is an excellent investment option especially
investment in UK

Web Site: http://spain.assetz.co.uk/

Contact Details: Address:Assetz House, Newby Road, Stockport,Cheshire,SK7 5DA

fax:0845 400 6010

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