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News from the financial sectors in Spain and the Canary Islands
   News from the financial sectors in Spain and the Canary Islands

Property not risky
Despite a number of properties in Spain being built illegally property experts claim that houses can be purchased in the country “without any risk” as long as care is taken.


Property not risky

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Internet: information and services
01.03.2008 - Mark Stucklin of spanishpropertyinsight.com said the number of illegally built dwellings was very small.  He commented, “The vast majority of properties in Spain have absolutely no legal issue...(This) should just make people cautious.

“If you want to buy a property in Spain, you can and without any risk.  You just do have to take care.”

He added that the news of property demolitions should not put prospective buyers off purchasing in Spain.

According to thisismoney.co.uk only one property owned by a Briton has been demolished in Spain for not having the correct planning permission and licences.

Those looking for a property to buy are being advised to look towards the Canary Islands where sudden demolition is not rampant and also property prices have dropped.  Last year the property prices dropped on all the Canary Islands with the exception of Tenerife where prices increased by 7.5 per cent.  Despite seeing a rise in prices Tenerife is 15 per cent lower than the national average price at 208,000 euros, whilst Fuerteventura is two per cent above the national average at 250,000 euros.




 
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