Spain's residential market will remain under pressure for the next two to three years as UK buyers turn to new markets, according to Andrew Williams, managing director of Cushman & Wakefield Residential. 'UK investors buy twice as much residential property in Spain as any other group of foreign investors,' he pointed out. 'But competition is increasing from alternative markets such as Turkey, Central and Eastern Europe, France and Italy. UK buyers are also tapping into markets in South America, Dubai and Southeast Asia,' he added.
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