I think that this budget might be a little low for an ideal holiday property in Spain, which will also assure a good ROI. Of course, this does not necessarily mean that its not doable.However, I would rather suggest to look for properties in emergent countries, in which, with this budget, you can easily find a superb holiday home, right by the sea, with great rental return, and no mortgage needed at all, and a secured %7-%10 ROI p.a.