Having been associated with the Spanish property market since the early eighties, I have seen various periods of crisis, all of which have eventually turned round. After six years of the present crisis, property prices have indeed come down, and they needed to, relatively low inflation has compensated partly for property prices, added to the fact that many people simply wish to buy a property in Spain and are tired of hanging on any longer. I belive that prices in general have reached their lowest level. There are even signs of prices increasing in some of the more popular coastal regions of Spain.
However, I am speaking from the foreigner's point of view where the demand is on the increase. For the Spaniards themselves, things are still very difficult and will remain so for some time to come. The key to them buying a home depends entirely on the Spanish banks opening their doors for property mortgages other than for the bank's own property - as a result of the property crash and untold number of property repossessions in Spain.
