There are plenty of bargains to be found in the Spanish property market at the moment due to a glut of supply.

According to the G-14 group of Spain’s biggest developers, there has been a significant oversupply of Spanish property, which means that prices are set to plummet.

Such a situation could be ideal for those seeking to purchase Spanish property, provided they are willing to hold onto their investment for a few years and wait for the market to recover.

According to Nick Stuart, managing director of the Spanish property experts Spanish Hot Properties, the downturn in the market will offer opportunities for those brave enough to enter into the sector and invest in property for the long-term.

Those looking to buy and sell up again within the next few years should not consider the Spanish property market, but those who are willing to spend a little more time over their investment will find they are able to watch their property value rise within a decade or so.

The G-14 group of Spain’s biggest developers have suggested that the oversupply in the market will result in a backlog that could take five years to clear, meaning prices will remain low during that period.

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