Here's an update on how the current market situation has affected the spanish property market. With many potential investors waiting for a greater depreciation in house prices and better exchange rates, is now the right time to buy? What effect has the current crisis had on the Spanish property market generally?  

There have been major changes taking place here in Spain, with prime minister Zapatero recently allowing unemployed owners of Spanish mortgages to defer their mortgage payment up to 500 euros per month for 2 years.This starts January 2009 and will be a welcome relief for those who currently have Spanish mortgages and are under pressure. Applies to all areas including Andalucia property spain and Costa Blanca Spain