Think hard, and do your research is the message from the Foreign Office to Britons pursuing their dreams of owning a property in Spain.
During the boom years the British were around 75pc of the foreign market for Spanish property, so they suffer a corresponding share of the problems that emerged in the go-go years when cowboys, corruption, and greed abounded. As a result, British consular officials have their work cut out dealing with problems associated with property purchases. Even now, the British are still the biggest group of foreign buyers (22pc in 2012), though the risks of buying in Spain are smaller today than there were at the height of the boom (paradoxically, booms are riskier times to buy than busts).
Prevention is always better than cure, which is why the Embassy in Madrid has made a video reminding Britons to think hard about what they are doing, and then do their research (and some) before they buy in Spain. They have also prepared a summary guide on how to buy property in Spain. There is no better protection than being well-informed. Please share.