I think that jp1’s first post on this subject sums things up and I tend to agree with his comments.
Unfortunately, the many rogue agents and their favoured lawyers along with all the other corruption that went on during the boom totally ruined things for those few trying to make good the Spanish property market. The Spanish Gov’t were too slow to respond, the Courts were useless and lengthy, the oversupply and build quality along with coastal destruction also helped crash the market.
And, because of the exchange rate Stg/Euro and worries over the Euro, buying now is virtually a no no for the British.
The only way it makes sense now is to get a discount of 50% plus, and only in prime spots, and look at the long term view.
We have friends with the usual sort of property (townhouse) on a golf course where there are many properties for sale of all sorts, they are extremely worried about the Euro and have put their house on the market. We don’t know how to advise them anymore, other than underprice the property significantly against others and hope to make up some shortfall in the current exchange rate back to sterling. They’ve run out of money to continue living there, can’t claim benefits and must feel desperate. Another lady we know has lost her husband recently, and also can’t move back to UK because her property has more than halved in value and so many others are for sale, what do you do? 😥
The sooner this Euro problem is over the better!