Australians are being urged to target Spanish property to obtain a bargain in the current climate and achieve their dreams of owning property abroad.

Ricardo Goncalves, presenter and reporter for SBS World News Australia, stated that Spain is now more affordable than ever.

"For less than half the price of the average Sydney home, you too can own property in Spain and live there forever," he wrote.

This has been brought about by the global financial crisis, which stalled the country’s housing market at left some 750,000 homes unsold. Prices are low and look set to remain so for some time in the future.

With the nation desperate to attract investors, the environment is certainly a buyer's market.

This follows an announcement on November 19th that the country is now targeting Chinese and Russian buyers with an offer of residency if an individual buys property worth  160,000 euros (approximately £129,000) or more.



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