When around 100x the amount that buy spanish property at the moment buy will be when the real estate market will pick up not before that. We are talking about ridiculous low amounts of transfers that go through at the moment and trying to extract any trends from that is just silly. Spain sadly picked the worst preriod to have a real estate bubble since it happened when the rest of the world including themselves is trying to ride out a the fallout of a credit bubble.
Hard to predict when this will happen.
Regarding Cyprus which is being mentioned is that it’s such a special place its basicly the only warm place for the old communist countries are allowed to go to without a VISA.