In this current economic climate the banks have had to repossess many mortgaged properties and are now faced with trying to sell them.
As an investor there are many opportunities to buy apartments for as little as 19.000,00€ which could be refurbished and then rented.
There are properties throughout Spain which are being sold at bargain prices. You need to be wary of just how much work needs to be done to make your prospective purchase habitable and we would thoroughly recommend you have a survey done. Another thing to consider is if the location of the property will suit your future lifestyle in Spain. It will not be worth it if your bargain is in the middle of nowhere with no amenities nor neighbours!
Always use an independent English speaking lawyer should you go ahead with the purchase.