Cash buyers get ready. The time to buy is here and coming.

[Goldberg Global]

All people who are looking to get into the Spanish market, the time is ripe soon, now and for the next 4 or 5 months. I think we are seeing some great deals out in the market.

They are just arriving.

Keys are
1. The spanish banks will not look to lend, maybe expats can get 70% mortgage but no way 100%.
2. There is excess stock in some areas. And you can get good deals.
3. I would advise to get some cash, cheque from outside of Spain. This is going to be the time to buy for the next 5 to 10 years.

When you have the cash and are in a position to buy, it is the time to go shopping. There are some must have deals and if you are smart buyer you can make money and get a good place for not its true value.

The situation will be, that things sold in the next months will be very good value. And the first served, will benefit the most I believe. Once the banks are sorted and the financial liquidity tap is put back on, everything will then be business as normal.

So sort your cash out and get ready to buy good value deals. This is the calm in the storm for the next 5 to 10 years. Buy wisely. and good luck.

[andyintheworld]

There are higher mortgages available than 70%.
80% LTV is achievable upto 100% of the purchase price. You must be a "clean" client though - no adverse the UK.
Full status, full docs and mortgages in Spain are taking a lot longer to underwrite than previously.
Much better to be able to buy cash though - although no leverage. You could always purchase and the later release equity I suppose - if you needed to get some of your money back out.

There will be some excellent deals in off-plan as developers look to offload. But it may take a while to cash out.
Resales are where the bargains will be had IMO as there are plenty of people struggling with mortgage payments.
I know Tenerife very well and the expat community is suffering. Especially those who are employed and have mortgages to pay.
Small business are closing every day, no jobs - no money. Owners face quick sales or repossession.

A solicitor friend of mine is working 20 hours a week - in addition to her full time job - just executing repossession orders for the banks.

I think its going to get worse before it gets better. Tenerife is not set to recover (according to local Spanish business groups) for another two to three years.