As well as auction and bargain property Auctions in Spain now have property repossessions directly from the Spanish Banks.

These properties have generally been repossessed by the Spanish Banks as a last resort from people who can no longer afford the mortgage repayments. Many of these Spanish properties are brand new having being originally bought “off plan” by people who just cannot afford to complete their purchase and the Spanish Banks have no option but to repossess the property. Some of the Banks auction the properties through agencies while others sell them direct.

Obviously this presents an excellent opportunity to invest in Spanish property at well below the market value, these properties also come with a 90% mortgage in place from the Bank who has repossessed it.

Up until recently information on bank repossessed property in Spain has not been readily available to the public and reserved for those in the know. Now however the Spanish government is applying pressure to the banks to sell this stock in order that the economy can move forward.

Now is your chance to own a Spanish villa or apartment at well below the market value.

At Auctions in Spain we also list the various Spanish government departments who have regular Spanish property auctions but buyer beware!...it can be a minefield with this type of auction and if you decide to follow this route you should employ a good lawyer to make the necessary financial checks beforehand and also to bid on your behalf.

So, should you be an investor looking for buy to let in Spain or just want to get on the Spanish property ladder now is definitely the time to buy, there are some excellent opportunities available in the Spanish property market from studio apartments to luxury villas and with many eligible for a 90% mortgage it’s an opportunity too good to miss.

Auctions in Spain wish you the best of luck in your search for a Spanish property.