In the past holiday homes looked an attractive purchase because buyers intentions were to let them to others for holidays. Once the figures made sense. Cost and overheads on paper at least could be covered by rental income and an annual holiday for the owner.
They could sit back and watch his investment rise every year. Everyone was a winner.
Now things have changed for many diverse reasons. Not least of these is the chronic over supply and the desire by many for a more adventurous holiday experience.
In 2012 it makes absolutely no sense at all to buy a holiday home either in Spain or elsewhere unless you are young, have money to burn and can afford to wait for years to see any return.
My prediction for the Spanish property market in 2012 is more of the same only worse, much worse. Wish I could be optimistic, I am about most things but not this.