Currently, Spain is at an economic low and as the months pass, more and more Spaniards are packing up and leaving to find work as the economy has practically ground to a halt.
Christmas is just around the corner, you could say everything looks pretty normal here in El Campello, with the streets decorated with holiday lights and the high street shops ready and hoping for the best 4 weeks of the year, considering Christmas, New Years, Kings Day, with official sales starting on January 7. In Alicante, on January 5th, stores like "El Corte Ingles" stay open until about 2am in the hope of catching last-minute shoppers on the 6th for what is the traditional Christmas "Reyes" for the Spanish. Unofficially, sales have already started with early discounts offered in most stores around El Campello and even more so in larger cities like Alicante.
As Christmas passes and the year draws to a close, a very important decision will have a significant impact on what happens here in Spain, especially the overcrowded property market, as the EC commission has to decide on refinancing. Spanish banks before the start of the new year. Unfortunately, the only way seems to be to refinance the banks so that they can once again loosen the grip they currently have on the property market, so property On the other hand, if no money comes in from the EC, then prices could fall even more, 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 grow. and without the help of banks.
El Campello is a good example of a town with lots of condos that need to be sold quickly, with local real estate agencies displaying lots of new "low price" signs and probably at least one for sale sign on every apartment building. There are also a number of new build events around El Campello that are having trouble selling all the apartments, and even those are being offered at lower prices than last year.
It's the same in practically every other town along the Costablanca from Denia to Torrevieja, and it's worse inland. Unfortunately, many people's dreams of living here in Spain have been destroyed and we can only blame the high level of political corruption that exists here, along with all the damage the banks have caused by going bankrupt after losing investors' money in the futures markets. Spain needs to change for the better quickly, clean up its act and get the economy wheel moving again and really start promoting areas of Spain like the Costablanca as the ideal European home, but for that many things need to change. to make Europeans who don't speak Spanish feel comfortable wherever they go. Come on Spain. Get Europe and our official language is ENGLISH
