The Costa del Sol property market is offering a large number of cut-price deals at present, real estate firm Spanish Hot Properties has stated.

Explaining that Spanish banks are increasingly resorting to repossession, marketing and operations manager for the firm Susana Suspenda remarked: "People who are in financial difficulties are having to decide whether to take substantial loses on their properties or risk losing everything."

As a result, she noted, there are some "incredible deals for Costa del Sol properties" becoming available, with examples including a townhouse in Paraiso being reduced in price from €500,000 (£451,000) to €320,000.

The possibilities of being able to pick up cut-price Costa del Sol property may entice a number of buyers to the area, particularly as Spain remains one of the most popular choices for UK buyers, Liam Bailey of Property Abroad has stated.

Earlier this month he said an investment in the country is something he would be more likely to recommend now than a year ago.