What is the rush to buy a property in Spain? I can guarantee you that I will be able to buy a property in Spain for 75% less than you would buy a property for now in three years time. Wait for the British economy and property bubble to collapse in 2015 before buying a property in Spain because when the collapse finally occurs you will be able to buy a property in Spain for just a few cents. There is going to be a General Election in Britain in 2015 and what is happening in Britain is a classic pre-election boom with all the help-to-buy votes scheme that is designed to help the Government win the General Election which will then be followed by a post-election bust. When the economic disaster occurs in Britain in 2015 this will have a knock-on impact on the property market in Spain because there will be fewer British people buying in Spain and this will have a dramatic impact on demand for Spanish property which will cause house prices in Spain to drop like a stone.
Timing is crucial when buying property because the property market is cyclical in that it follows a cycle of boom and bust and if you don’t get your timing right then you will get your fingers badly burnt. Spain is in the grip of the worst recession since the Great Depression and it is set to get much much worse particularly when the American economic bubble, bond bubble and stock market bubble bursts in 2014 and also when the British economic bubble, bond bubble, housing bubble and stock market bursts in 2015. What happens in America then happens in Britain a year later.
Therefore I strongly suggest that you wait until 2015 before even considering buying a property in Spain and it will be well worth the wait because property prices in Spain will be 75% lower in 2015 than they are today.