Ok to add another side – I was in a meeting with sellers of land not far from Marbella. It has the interest of a worldwide market leader in luxury accomodation and the permission is in place to build a 6 star resort! They see potential and what the guys were speculating is that as the internet enables people to work from home, many more high worth individuals will buy here, be tax based offshore and fly into meetings. They will demand luxuy and the boutiques as you see openeing already, and meanwhile this will re generate a service industry for people to service them.
It was an interesting thought and it wont happen overnight of course, but there are more families moving out with the hubby working abroad.
But yes the 2 bed 2 bath standard builds wol still be in oversupply!