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Boost for Investment Property in Spain as Future Looks Brighter

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Boost for Investment Property in Spain as Future Looks Brighter

By - Wednesday 22 December 2010

Property investments in Spain could look more attractive as the country shows that it is not in as bad a deficit as had been thought.

Regional governments in the country have said that they are on track to meet their 2010 budget targets, as they open their books to show the public ahead of the year's end.

This, the Wall Street Journal reported, has led Spain to quell any investor fears that the country would need a financial bailout.

On average, the individual deficit of Spain's regions was 1.24 per cent of gross domestic product by the end of the third quarter of 2010. This is within the 2.4 per cent target for the whole year.

However, critics have suggested that the fourth quarter of the year is a time when large expenditures are made, which could dramatically push up the deficit.

Andres Fuentes, an economist at the Organisation for Economic Cooperation and Development, told the news source: "I think the country is on course to achieve its budgetary target this year and also next year."
 

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