There are many people using the search engines to source property on the Costa Del Sol, just checking Adwords the phrase " cheap property in Spain
is getting arounf 1600 searches performed every month. There are many bargains to be found currently, primarily because of the tough economic conditions and over stretched investors looking to sell their properties at knock down prices.
The key to sourcing great value property is to have an open mind about what area and type of residence you view. Many people are coming to Spain with very strict requirements and therefore end their search in disappointment. Building a good relationship with respected real estate agents is the key, also viewing private sales on many of the specialist portals will give you a good idea of price versus value.
You also need to be mindful of the fact that in the boom times prices rose to sometimes ridiculous levels, therefore if the reductions are based on these silly prices you aren´t really getting a bargain at all, just something that is at the price that it should really be.