From the perspective of a buyer in the UK (I’m searching for a property right now) I think things are looking up. We have some stabilisation, at least, in the UK housing market, the Pound/Euro situation is improving and overall, the UK economy seems ahead of the curve vs. the Euro Zone. Unfortunately, from the Spanish perspective, I think they have some serious problems: over-supply in the market, worse unemployment than the UK due to over concentration on construction, a rather ‘dodgy’ reputation due to certain sharp practices and injustices, and almost certainly further to fall before recovery comes. I do believe it will come, however. Medium-long term it is a good bet. In the short term, I think it will be quite volatile.
For sellers in Spain, I can understand it must be very difficult. A lot will depend on the resources available to ride out this very rough time. If you are over-extended, with a lot of debt, then times are tough indeed. Been there myself once, in the distant past, so believe me – I know.