Those looking for Spanish property bargains can see a good example in Mallorca of how much less distressed properties in the country cost, it has been stated.

Real estate firm Spanishhotproperties.com said the house in question – which would normally be worth €450,000 (£398,000) – is now available for €295,000 as it has to be sold by September.

Such a price might not be such a bargain on the Costas but "this reduction in Mallorca really does represent a true distressed sale", noted managing director of the firm Nick Stuart.

He added that while some overdeveloped parts of Spain have many bargains, it is "really worth taking a closer look" when such an asset becomes available in Mallorca, as these are much rarer on the island.

Buying property in Spain is becoming a more popular activity among investors, a new survey has found.

The latest homeoverseas.co.uk study of searches on both individual properties and countries has revealed that the country is now the one with the most hits, overtaking previous leader Portugal.

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