During 1997-2006, Spain led the European real estate explosion. This stage has been seen as the largest increase of urbanised space throughout Spanish history, transforming the landscape as no other natural or artificial phenomenon had done before, especially in coastal areas. That is why many authors called it the speculative tsunami. The construction fever ended when the real state bubble burst in 2008 and now is the time to analyse the causes and effects of an economic and social model organised around brick and mortar, without any respect for environmental, urban or landscape aspects. It is necessary to show the logistics that have fuelled real estate speculation to reach these limits and also the resulting spatial effects, with the aim to offer some possible ways of intervention to restore its territorial outcomes.