For the UK purchaser considering purchasing a property in Spain we do not think now is the right time to make such an investment.
Currently the pound is trading at 1.09 to the Euro. ( August 2019 )

1. If you was buying a property with a total cost of 250,000€ it would cost you in pounds sterling approximately £228,582.
2. The average exchange rate over the last months has been about 1.15 so it is important that you watch the exchange rate. At 1.15 the purchasing price would be approximately £217,391 a saving of approximately £11,191
3. The unknown quantity at the moment is the outcome of Brexit and we have no way of knowing what the new rules will be for UK nationals wanting to purchase a Spanish property for holidays or permanent living in Spain.
4. However we do know what the rulers are for known EU Nationals currently wanting to purchase a property in the EU, which also applies to Spain, so as a guideline we assume that these rules could be the same for UK citizens and thus the rules will be.
5. Someone wanting to buy a property for holidays: You will still have the right to buy a property in Spain to rent it out after Brexit. After Brexit it may be the case that UK citizens are obliged to pay tax at the same rate as non EU citizens, which is currently 24%.Nov 16, 2017 Within 30 days of arriving in Spain, all non-EU/EEA and Swiss citizens who want to stay for longer than three months must apply for a residence card/permit (Tarjeta de Residencia or TIE).Apr 1, 2019. We think that the three months is the maximum in a 12 month period.
6. Non EU Citizen living in Spain. When you purchase property in excess of 500,000.00€ you will receive a multiple entry visa which is valid for one year. Within this year you must go to Spain and apply, in person, for your residency It is valid as long as you keep your Spanish properties in your name. Aug 1, 2017
7. Question and Answers. Spain after Brexit 

Speculative Purchase: – You should look very carefully at a potential purchase if you are buying a property to rent on either short term leases (Holiday lets) or long term lets. The laws that surround these markets are being tightened up dramatically, also there is a massive over supply in the market.  With government taxes, purchase costs and general charges, it is an expensive exercise.

From the property fall of 2008 there is still uncertainty and a lack of confidence in the property market. This is common in many countries, the days of buying today and making a good profit tomorrow are gone – except for a few hotspots around the world.