Is it time to buy that spanish home?

August 27, 2009

Spain has the best bargain homes in Europe. Yet, despite them falling between 30% and 50% in some areas, many Britons are still waiting to see if prices will fall further.

Sales volumes in popular holiday home areas – are half 2006 highs, yet there is an estimated backlog of one million unsold.
Official figures say 32,000 estate agents – or 40% – closed down in 2007, and 15,000 in 2008. Unemployment in Spain has topped 15%, a third of which is blamed on the housing crisis.