It seems that we are in the midst of a global economic downturn and a worldwide property crash, so is it the right time to be buying Spanish property…and in particular, is it a good time to be investing in property off-plan?

A lot of agents and commentators are reporting that we are nearing the bottom of the market in some of the more popular areas of Spain, with the attraction of genuine discounts in some of Spain´s most thriving resorts proving just too tempting for a large army of bargain-hunters. So while key-ready Spanish property and resale opportunities abound, the off-plan market seems a perilous place to be in a market downturn. Continue reading »

Anybody who has recently tried to obtain a mortgage, either a mortgage in Spain, or a mortgage in their home country, will tell you that it´s not the easiest of processes anymore.

During the peak of the Spanish property market, lenders were falling over themselves with offers of easy and cheap credit to overseas buyers. The banks were so hungry for business in a rising property market, that they were prepared to base their levels of lending on the property valuation, rather than the property price. Any market is based on greed and fear, and if we are now in the midst of fearful economic times, then it´s certainly true that at the market´s peak, greed was the overriding factor. Continue reading »