Those who want to live in Spain should buy now as there are plenty of bargains, but those looking to invest should wait.

There are currently many property bargains on the market in Spain as people become desperate to sell their homes however, according to an industry expert, although now is an ideal time to buy if you are looking to relocate to Spain, those looking to invest should wait.

Paul Bradley, a spokesperson for the Spanish Property Owners Guild told the website MoneyHighStreet.com that now was the ideal time to consider buying a property in Spain if you want to move there for a lifestyle change. There are currently many bargains to be had as people become desperate to sell.

However, if you are considering buying in Spain he advises you take out a mortgage with a UK bank as many Spanish banks have stopped lending for property purchases due to the current climate.

For those looking for a permanent or holiday home, now could be an ideal time to snap up a bargain, but serious investors are advised to wait.

"If you are just buying to invest, I would wait another year before even bothering to look," Mr Bradley told MoneyHighStreet.com.

The website thisismoney.co.uk also reports that buyers looking for property in Spain are currently in a very strong position, but in actual fact, despite the panic, it is not a good idea to sell now. Instead, if you are feeling the strain the website advises how you can help to make ends meet without having to put your home on the market.

For example, renting is still popular on the costas, with over 13 million British visitors a year, so demand for holiday lets is always high. Renting is a good way of covering your mortgage and during peak season you may even be able to make some additional income as well. You can then transfer any money you make in Euros into Pounds and also gain money due to the rising Euro against the Pound exchange rate.

Thisismoney.co.uk, reports that Spanish property owners are making as much as 15 per profit by switching their Euro savings back into pounds sterling. In January 2007, £1 would have bought you €1.52. Today £1 will get you only €1.24. Even with the currency transfer costs you should still make a profit.

Full story from www.homesworldwide.co.uk