As the Spanish economy slowly improves, observers hope to see a recovery in the property market in the country over the coming years.

The Spanish real estate market has been characterised by falling property prices and a decrease in property sales for the last couple of years. It is a buyers market.

The banks are eager to sell the properties and in doing so, are offering them at a fraction of their original value. According to newspaper reports, prices have fallen by up to 40 per cent as banks and developers desperately try to claw back their investments.

That means, property in Spain is at rock bottom prices, hence there is nowhere else to go but up.

The Spanish government is all set to tap the current situation. It is in the process of embarking a Europe-wide roadshow to convince nervous investors to come back to the nation's property market.

According to government statement, Minister of Public Works Jose Blanco and Housing Secretary Beatriz Corredor will brief UK property investors and media on the latest legal reforms and pricing activity in the Spanish property market, at a conference to be held at the Spanish Embassy on May 4, Wednesday.

The road show will later move on to France, Germany, Holland, Sweden and Russia.

Jose's aim is to boost sales of existing Spanish holiday homes solving the problem of oversupply that is overwhelming the market. He also wants to reassure investors of the ‘strength’ of the country’s economy and the ‘transparency’ of the housing market.