People looking for Spanish homes ''can get great deals''

By MoneyhighStreet Staff. Published on May 28, 2008 This post currently has no comments.

Spanish Villa
People who want to live in Spain should buy now, while those looking to invest should wait, an industry expert has said.

Paul Bradley, a spokesperson from the Spanish Property Owners Guild, explained that now was a good time to consider property in Spain for people wanting to relocate to the Mediterranean country.

He said that there were currently "bargains to be had" because many people were "desperate to sell".

Despite this, Mr Bradley said people who decided to buy property in Spain should arrange a mortgage in the UK as "Spanish banks have stopped any lending for real estate".

While Mr Bradely said it was a good time for those looking for holiday homes to buy, he cautioned serious investors to wait.

"If you are just buying to invest, I would wait another year before even bothering to look," he concluded.

Recently, Jet-to-Let Magazine reported that Spain had dropped from second to third place in a buyers'' ranking of top destinations for property investment in 2008.