"We have seen some wall mounted coolers/heaters in Spain that cost about 40 euros each"
If I have ever heard a description of split AC then this is it.If it doesn't refrigerate then it doesn't cool,it just blows air around like a wall mounted fan heater with an option to turn off the heating coils.It might make you feel a little cooler but you'd probably find a ceiling fan a lot quieter due to the larger diameter of the fan creating equal airflow for lower RPM,but hey any fool should know that so why did I bother mentioning it.
Due to the nature of this discussion I should imagine a few readers would also be interested in some opinions on Aircon as well but if you don't think so Laguna maybe we should all shut up about it and talk about these fans you are pushing.