Spain was no longer an emerging market; the country had spent the previous decade of booming infrastructure and strong demand. The moment had arrived for the real estate market to establish stability with a much needed price correction. Speculative buying ceased as increasing numbers of foreign owners became lifestyle clients, with a predominant shift from retirement aged Northern Europeans, to considerably more working aged buyers.

As rumours abound regarding the future of the Spanish real estate market, unfounded fears of a complete collapse in southern coastal resorts regions began to surface. The reality of the market is that many of the initial attractions drawing buyers towards the region will always remain evident. The desirable weather, short haul European flights, developed infrastructure, beaches, golf, healthcare, education, amenities and relaxed lifestyle continue to make southern Spain a preferred location.

As the real estate market fell, the numbers of tourists visiting the south of Spain remained strong. Short term rentals throughout the summer continued to produce high returns to owners with preferential properties in ideal locations.

Many visitors to Spain have been keen to consider the new opportunities the market is now presenting. New interest is arriving from lifestyle buyers rather than the pure speculative investment of the past. Long and short term rentals can still be obtained with good yield returns, yet tenants are currently in an advantageous position of bargaining with the aim of obtain preferential deals.

Growing numbers of distressed sales are entering the market, enabling those with the potential to purchase and those able to obtain financing, a fantastic opportunity to find a lifestyle home or long term investment property. As the price correction and stabilisation of the market is expected to continue for some time, short term speculative buyers are heading into other emerging markets.

Buyers understand that with the maturing of the Spanish real estate sector, beneficial opportunities await them. These days it is less likely that sea views will be interrupted by a gaudy apartment block constructed illegally directly in front of someone's home, bringing down the value and the re-sale potential.

Future growth of the Spanish real estate market is not expected to continue developing at the same pace as it did during the peak leading up to 2007, yet the mature market and internal government overhauls to correct corruption have worked towards generating a stable and desirable overseas property market.

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