Cold view required for the warmth of Spain

Despite all the bad news recently, it should be noted that Conti, the overseas mortgage provider has seen interest from people looking for property to buy in Spain, actually rise in 2009.

However, many investors now living in the country are seriously struggling financially. Many bought into the lifestyle when property prices in Spain were almost at a premium. The subsequent economic crisis then impacted upon the buying power of the GBP as its value against the euro tumbled. Pensions & savings values plummeted in response and many expats can no longer sustain their dream lifestyle.

The advice that many industry experts are now giving is that potential investors & buyers should be realistic about their expectations, level of investment, & their capital reserves.

In addition to this a deep & broad picture of the Spanish property market is essential before buying, as selling a property in Spain becomes a cautionary tale.

Property prices may have a little further to fall yet, so the best value for money will be gained by the cautious & patient investor.