I don’t think we’ve seen the bottom of home values in Spain. Regarding the overall economy, the problem is that the metrics used to determine that things are improving ignore the reality that it may be improving for only for some of us. In Spain, where so many are unemployed and many more are working but being affected by cuts in services and increasing taxes, the ‘despair index’ is very high and widespread.
So what if 5% of the population is benefiting from a few economic hot-spots? It doesn’t matter if the rest of the country is getting close to revolution.
In a country so reliant on the tourist trade, the authorities will try and stifle any bad news that may affect it. There have been many demonstrations in the big cities, but the arrest and injury quotient compared to other countries has been low. I don’t think the people have the appetite for revolution, not after a long and bloody civil war and dictatorship.
Spain’s foreigner friendliness may be a myth if expats truly try to integrate, but most expats are quite happy not to stray beyond the guest status they have. Someone from the home counties in the UK will have similar experiences if they move to Cornwall, and it’s not a big deal.
Despite the civil unrest caused by high unemployment and those despised evictions from repossessed properties, I can detect little anti-foreigner feeling. It’s not in the country’s interests.