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Cautious buyers 'flocking back to Spanish property'

News Date: Tuesday, September 20, 2011

Britons are increasingly looking to invest in luxury properties in Spain as they seek the perfect overseas residence.

This is the suggestion of experts speaking to the Manchester Evening News (MEN), who say UK buyers are returning to the Spanish market to find properties that meet their exact requirements.

However, they seem to be taking a much more cautious approach compared with the boom years prior to the credit crunch. The trend has emerged at the same time as the release of a report from the Overseas Guide Company (OGC) revealing an increase in requests for information on the Spanish market.

Marc Pritchard of Taylor Wimpey Espana explained to the MEN: "Location is the key.

Meanwhile, Richard Strappe, investment director of the new residential development at PGA Catalunya near Girona, added: "People still want a place in the sun to escape to, but they now want a lot more.

OGC said last week that 24 per cent more people requested its Spain mini-guide in the first five months of 2011 compared with the same period last year, with company director Kim Brown explaining to A Place in the Sun that the country's weather, lifestyle and established expatriate community seem to be the main reasons for its enduring appeal.