SPAIN should see overseas investors returning in large numbers with experts predicting the market has overcome the worst.
Huge UK agent Knight Frank estimates that the market has now stabilised, although prices will have to wait until 2011 to go up.
Meanwhile property website Kyero.com estimates that investors have stopped waiting for further price drops.
It estimates that there will be a “wave of foreign investment” flowing into Spanish property in the next few months, although at prices 30 per cent below the peak in 2007.
This comes while a number of leading websites reported increased numbers of UK buyers looking for Spanish property.
Both Primelocation and Rightmove say that more than 20 per cent of searches are for Spanish property, which is up on 2008.
“We did record a drop in search interest during the first six months of 2009,” said Rob Wilson, of Rightmove. “But it has been returning.”