I live in an area in UK where “investors” have been taking advantage of low property prices (encouraged by letting agents!) to buy to let. The buy to let market is now almost at saturation point. This is a similar scenario to the one in Spain – but on a smaller scale.
I have difficulty in accepting that all the blame should be laid at the door of the Spanish Govt. I had bad experiences when trying to buy in Spain in France and in Cyprus. I used those experiences to do lots of research before going on to buy in Spain.
There are a number of good publications available in UK ( and some very revealing TV programmes) providing sound and sensible advice on buying abroad. Without doing research thoroughly or – choosing to set aside such advice in search of a relatively “quick buck” – things can go “pearshaped” quite quickly.”.
Having owned a couple of properties abroad now – I suspect that time spent on assessing the risks involved and a good measure of “risk management” is time well spent by buyers in the buy to let market.
Hope those having difficulties are successful in solving their problems.