Could international money transfers to Spain rise as market bottoms out?

International money transfers to Spain could be on the rise if people want to take advantage of low property prices.

According to Mark Stucklin, of Spanish Property Insight, recent data suggests that the market has bottomed out and is now entering "the beginning of the end of the crisis".

Indeed, the latest governmental figures show that planning approvals have declined by 89 per cent over the last four years.

Last year there were just 91,662 approvals compared with the record 865,561 in 2006.

Mr Stuckling added: "I forecast that 2010 will mark the bottom of this cycle for Spain's residential construction industry.

"New home construction will start growing again in 2011, albeit weakly and from an exceptionally low base."

Meanwhile, the latest index from Kyero has revealed that prices are still declining, with a drop of 4.5 per cent recorded in the year to February 2011.

Click here to make an International Money transfer to Spain

Posted by Sarah Pitton