Gains in Spain: is now the time to invest in Spanish property?

After years in the doldrums, signs of life are returning to the Spanish property market

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(Image credit: 2013 Cristina Arias)

IF HISTORY is, as Thomas Carlyle contended, “the biography of great men”, to what extent are global markets shaped by outsized individual investors? It’s a topical question when it comes to Spain – the hitherto despised European “Piig” now apparently basking in the sun as the favoured destination of some of the biggest beasts in the money jungle.

Billionaires George Soros and John Paulson are both renowned for making bold calls. The enigmatic Hungarian émigré, best known for his giant punt against the pound in 1992, currently reigns as the most successful hedge fund manager in history, measured by investment returns. Paulson, meanwhile, is celebrated as one of the few to have correctly called the 2007-08 bust, making a fortune betting against the US subprime mortgage market.

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writes profiles for Money Week and is City editor of The Week.