You summarise very well Mike, however spare a thought for many of those who reckoned their properties would double or more in 5years or even overnight, most would be thought of as ‘sensible’ too. It might seem easy to say it now, but the vast majority of them were literally duped by unscrupulous estate agents and developers who acted as if they were financial advisors. In the case of Brits buying, it was their fellow countrymen/women who deceived them, defrauded them of life savings and dignity.
Furthermore, these crooks also told their mug buyers that they themselves were also buying in this or that development and therefore it must be safe.
The majority of these crooks (they know who they are, and so do many of us know who they are) we could name them, escaped unpunished, with unpaid taxes, unpaid staff and the impotent, useless Spanish Government did nada about it.
Quite a lot of these crooks are now plying their fraud on new unsuspecting buyers in other countries. I hope to hear one day that some of their buyers have caught up with them and rid the world of their sort 👿
Like you though, even if the Euro plummets or disappears, even if Spanish property fell much further, I doubt I’d ever buy in Spain or any of these corrupt property markets again 😉