Here’s a summary based on Spanish real estate market data and analysis.

1. Global and Spanish crisis

• Global: The real estate crash triggered the Great Recession (2008). It started with the U.S. subprime collapse in 2007 and peaked with Lehman Brothers’ bankruptcy in Sept 2008.
• Spain: Known as “La Crisis Inmobiliaria” or “La Burbuja Inmobiliaria”. Lasted from 2008 to 2014-2015, hitting Spain harder due to its reliance on construction.

2. Price bottom

Lowest prices were in 2014-2015, after years of decline.

3. Price evolution

• 2000-2007: Rapid growth.
• 2008-2014: Drop of 30-50%.
• 2015-2019: Gradual recovery.
• 2020-now: Strong growth driven by foreign buyers, digital nomads, and lack of new builds.

By region:

• Costa del Sol: Strong correction, luxury segment resisted better. Since 2015, robust recovery, Málaga now a tech hub.
• Costa Blanca North: Stable demand, steady growth since 2015.
• Costa Blanca South: Hardest hit, slower recovery, still affordable.
• Costa Cálida: Severely affected, abandoned projects. From 2017 onwards, competitive prices and potential.

4. Fastest growth (2023-2024)

• Costa Blanca North.
• Costa del Sol (Málaga).
• Costa Cálida (highest % growth).

5. Best investments

• Growth potential: Costa Cálida.
• Safety: Costa del Sol & Costa Blanca North.
• Rental yields: Costa Blanca South, Costa Cálida, Málaga.

Conclusion: Prices still rising but at a slower pace. Another 2008-style crash is unlikely due to stricter rules and limited supply.