The Spanish property market is dogged by repossessions, a collapse of the construction industry, 22% unemployment and enough bad publicity to last for another generation. A lot of fuss is made on this forum about the misfortunes of UK buyers in recent years, but most of it is irrelevant to the larger picture.
The simple basics apply, land has got too expensive along with building costs, while salaries remain proportionally lower.
From a Spanish point of view, a retreat to family values is appropriate, back to the old ways, children stay at home for longer and no longer hanker to buy unaffordable city apartments.
The foreigners will still come over to buy at the cheaper end, but Marbella and places like it will die.