For those keen to get onto the property ladder or who want a second home, there is surely no better time to buy.
Caja Madrid are holding the third of their five day Real Estate Outlet events in Torrevieja. On this occasion there are 100 houses up for grabs priced between 44,640 and 121,965 Euros . You can have a 100% mortgage or you can rent to buy. Interested parties are taken by taxi for a viewing.
In the first three hours of the event, sixty people showed interest in the idea, many of them from Madrid keen to buy a holiday home at a knockdown price.
This kind of marketing may be great for buyers but not so good for those who have a house for sale.