Spain, being fashionable with foreigners, has many areas where prices are more or less decided by the foreign market, and not so much affected by the over-building and over-pricing elsewhere.
Germans flooded Denia, Calpe and Majorca, where the prices have kept up. Norwegians took over their own town, Alfaz del Pi, and even tiny Sweden has a strong presence on the outskirts of Torrevieja.
The Dutch are influential in Benidorm, where prices (and apartments) are still sky high.
The trend is bound to continue as Spain is throwing its doors wide open to more foreigners.