Buying property as an investment

I have been having a look at the prices of some properties in the area and there are some bargains. Should I buy a cheap property, for say 15000 euro as an investment? What are the thoughts of this collective?

If I was planning to invest, hoping for a profit I'd want to know what market drivers there are that would make my investment rise in value.
It seems to me that houses in Spain don't have any natural reasons, such as supply and demand, to increase in price. On top of that when purchase costs: taxes & fees, and selling costs: agent's commission, capital gains taxes are taken into account, how much would a property have to rise in value just to break even?

I think I'll keep my money in the bank at present - though not in Spain, 'natch - or Cyprus. Though some PIBS (permanent interest bearing shares) look interesting with yields of 6 - 7%. Remember the value of investments can go down gently as well as plunging off a cliff.

If you have €15,000 that you won't miss, and you can't find anything else to invest in, you would probably get a better return from buying lottery tickets!

Over the last few years, we have seen the property market reach a state that nobody could predict, and every time people said it couldn't get any worse - it did.

I think you need to do a lot more by way of research, than asking for opinions on a forum - such as finding out what sort of property is in demand in a particular area, what (if anything) is actually selling for the asking price, who is buying it, what is the potential to add value, and what are the region's economical prospects, etc.

If you can believe the local estate agents, that might be a good place to start, but I think re-sale prices will continue to fall over the next few years before we start seeing an increase in demand and re-sale prices.

If I had money to invest, I'd buy an apartment in Granada city and rent it out. There's a high demand for accommodation there, and I believe property prices do tend to rise there - not that I know much about it!