Thursday, August 11, 2005

Spanish drought "failing to deter" property investors

Spain is currently experiencing one of the most severe droughts in European history, suffering conditions that have resulted in the withering of crops, drying up of rivers, and a water rationing policy at the peak of tourist season.

Traditionally, Spain has been one of, if not the most popular destination for holiday home investment, particularly among UK property investors. It would be assumed that the drought would act as a deterring factor for many investors. However, this may not be the case, with buyers showing evidence of sustained confidence in the Spanish property market, despite recent meteorological events.

Many investors are still putting money into Spanish properties, suggesting that buyers are looking further into the future than it might be assumed. Investment levels in popular holiday destinations such as the Costa del Sol remain high, and the property market has retained its buoyancy.


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