I spent the last week looking around the South Costa Blanca and Murcia, 2 areas particularly hard-hit. I’ve come back more optimistic. I don’t expect a rebound, but I think we are near the bottom. I saw house-hunters from all over Europe out and about, including Brits (though the Brits don’t dominate like before, which isn’t a bad thing). Prices down 30-50% or more.