The Spanish property market has hit the bottom and will see prices rise soon, it has been claimed.

Laura Nicoll, a director of property firm Iberian International, said that the situation will be brought about by the current slowdown in the number of homes being built.

She stated there will be an "inevitable supply shortage in the coming years", due to the lower numbers of homes being built.

At present, however, prices are continuing to fall, with the second largest bank in the country, BBVA, predicting that Spanish property prices will drop by ten per cent this year.

Such a situation could help those looking to buy Spanish property to find plenty of bargains.

Earlier this week it was revealed by foreign exchange firm Currency Index that the average price of a two-bedroom apartment on the Costas has fallen by 30 per cent since last year, the Press and Journal reports.

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