Spain is currently at its lowest point economically and as the months go by, more and more Spaniards are packing up and leaving in search of work as the economy comes to a virtual standstill.
With Christmas just around the corner, it could be said that here in El Campello everything seems quite normal, with the streets decked out in festive lights, and the street shops ready and waiting for the best 4 weeks of the year, if we have in mind account Christmas, New Year, Three Kings Day, with the official sale from January 7. In Alicante, on January 5, stores like “El Corte Inglés” stay open until 2 in the morning, hoping to catch last-minute shoppers for what are the traditional Spanish Christmas “Reyes” on the 6th. Unofficially , the Sales have already started with early bird discounts being offered in most shops around El Campello, and even more so in bigger cities like Alicante.
As Christmas winds down and the year comes to a close, a very important decision is about to have a significant effect on what will happen here in Spain, particularly in the overstretched real estate market, as the EC commission must make the decision about refinancing. Spanish banks before the new year begins. Unfortunately, it seems that the only way is to refinance the banks, so that they in turn can release the dominance that they currently have over the real estate market, so that property prices can start to rise, which would create confidence in the market. On the other hand, if no EC money comes through, prices could fall further, making property in Spain much more attractive to cash buyers with a budget of €90,000 or more, and then the economy could start to slow down. growing up. and without the help of banks.
El Campello is a good example of a town with many apartments that need to sell quickly, with local estate agents displaying a multitude of new ‘Low Price’ tags and probably at least one for-sale sign on every apartment block. There are also a number of new build developments around El Campello that are having trouble selling all the flats, and these too are selling at lower prices than last year.
It’s the same in practically every other town along the Costablanca from Denia to Torrevieja, and inland it gets worse. Sadly, many dreams of living here in Spain were shattered, and we can only blame the high level of political corruption that exists here, along with all the damage banks have caused by failing by losing investor money in the futures markets. Spain needs to change for the better quickly, clean up their act and get the wheel of the economy turning again, and really start promoting areas of Spain like the Costablanca as the ideal European home, but to do that a lot of things need to be changed to do that Europeans who do not speak Spanish feel comfortable wherever they go. Let’s go Spain. Get European, and our official language is ENGLISH.
