PS51

Re Lepers' post. Purchase after careful research and renting isnt always putting your neck in the Estate Agents noose. For those who bought in 1996 ish and bailed out in 2006 ish. . . Just before the crash, will have done Very Very well. If you went to those people and offered a trip back in time to rent instead. I think they would decline.
The question is one of Timing. Is this anywhere near the bottom of the market. I think not. However . If I bought a small place for £70K and it dropped 5K in the next few years. As long as my Kids/Grandchildren , my wife and I had fun there, and lots of memorable holidays, I'd be cool with that.

rspltd

I think the first thing you have to think about is why Spain? Some of the most obvious things are weather, cheap wine, and cheap cigarettes. How many of the holiday programmes say ' I can just see myself sitting by the pool with a glass of wine'. So let's consider these. A lot of the buildings that were put up were not intended to be lived in but used solely for holiday homes. Even if they were as has been said Spanish insulation is not the best. The summers can be very hot and the winters can be cold. Maybe this still floats your boat. After all you will be on holiday so the language won't be a problem, health will be covered by insurance, the car will be hired and the grandchildren will be out to visit you often. Do you think this will be the same when it becomes a permanent home. We won't go into the facts that you have to pay quite a lot for electricity, gas (if it available) and water even when you aren't there and broadband can be frustratingly slow and that has to be paid for usually on a long term contract. English television no problem at all but if you want to watch specific programmes you may have to resort to watching on line.

Who will look after the building when it is empty, and make sure everything is OK? Do you want close neighbours (some urbanisations are cheek to jowl) or do you want detached.?

You need to come out and live as if you were living there (even if it is a rented place) for as long as you can. Again as has been said if you actually live in a place that is your responsibility you seen find out some of the flaws. Are there barking dogs all night, is it close to a property that is rented out and the hollidaymakers stay awake all night, where do you keep a car or can you get everywhere you want to go by public transport (highly unlikely), how do you get from the airport when you go back to the UK . Lots to think about but only you can then form an opinion of whether it meets your expectations.