Spanish property market in decline

Spanish property has been suffering from foreclosure rates that are significant, yet investors may see the bottoming out as an advantage to them.

Spain's foreclosure market continues to see growth in the number of foreclosures happening each year. Yet these numbers do not show the real facts about the country's housing market, which has a number of owners desperate to sell properties before all is lost.

A record number of properties are hitting the market here as 'must sells.' These properties are owned by desperate banks and owners who need to sell them quickly.

Investors who can help save these owners by buying them out - often for record low amounts - are able to take advantage of some real "deals" in the housing market. Many are making quiet offers for much lower than valued numbers on these properties at the last minute in an effort to save the property owner from repossession, but also to get in on the market gain here.

Still, there is trouble here to make mention. For example, the large and distressed Spanish property developer, Immobiliaria Colonial is facing buy outs and huge losses in the wake of the real estate turmoil here.

Immobiliaria Colonial has recently recieved a bid from Investment Corp. of Dubai for 50.1% stake in the company.

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