Are there any rules about how to buy a cheap apartment in Spain or is it all about luck?
A cheap apartment can be on the market for a short period only, so how can you get information about it before it is sold?

Prices  in 2003 - 2006 have gone up a an unpresidented speed and in 2006/2007 it was impossible to find a cheap apartment in Spain. Many started to look at the possibility to buy something old and do it up. However this was not really a cheap solution.

The financial crisis started in 2008 and put the Western World property marked at a stand still, and in 2009 many have found that in order to sell, the price must be reduced with at least 30%.

This means that in order to sell quick one must also sell cheap

There are many property owners who are not in a hurry, and they do not need the money now. For them it is an option to wait for the market to come back and not sell their apartment cheap. Letting it for long term rental in Spain is a good option, and then selling in a few years at a higher price. 

Distress leads to cheap apartments
However sometimes owners are in a tight spot financially or they may just wish to move now for personal reasons. Cheap apartments come for sale after the owner has tried to sell at full price, and then they reduce the price when they have found that it hasn't sold in the time they wished for.

Making an offer is also a good way to secure a cheap apartment as some owners may be ok to sell at a cheap price although the asking price has not been lowered.

Cheap apartments east of Malaga
East of Malaga used be the place you had to go to find the really cheap apartments, however today it is possible to find good location apartments for sale at cheap prices even west of Malaga.

Back to distress sale in Spain.