One of our news stories covers the fact that many of us would love to move overseas – or at least have a holiday home to visit. Strangely enough Australia is proving to be more popular than the likes of Spain, the previous first choice for expats, which has four million foreigners living there. Yet those of you who were thinking of moving to Spain must be now breathing a sigh of relief that you didn’t.

A Spanish property crash has been well-documented this year but yesterday the Ibex index closed down 2.7 per cent, and the stock in most if not all mortgage banks also closed way down. The reason for this is the property market. House prices are rising at their slowest rate for nearly 10 years and in many areas are falling. More than 800,000 homes were built in Spain last year and there is a glut of property on the market. It is not selling and dropping in value every day.

If, of course, you are planning on buying in Spain, it could be good news. It is definitely a buyer’s market. However, be warned. Experts believe that the correction in property prices in Spain still has some way to go. Property prices could crash still further. Keep checking our site to see if that prediction comes true…