We all know the seriousness of the crisis here in Spain. According to Madrid-based property consultants Acuña & Asociados, there are around two million resale, ready-built and partially complete properties on the market, of which an estimated 11 to 17 per cent are owned by the banks.
With such an oversupply of property, prices could still have some way to go, do bear in mind though that even if you want to bide your time for even bigger discounts, dont expect to uncover high-end homes going for a song as that level of property seems to have levelled out for the moment. Remember that in times of crisis there can always be a silver lining.
Across our area of the Costa del Sol there are many opportunities for budding entrepreneurs and for anyone looking to buy a home in an area of such natural beauty with access to international airports like Malaga and Gibraltar making travel to and from abroad fairly easy. Many economists justify these times of crisis as the best times to take and create businesses. The same is true of the crisis in Spain.
It is the most logical reason! When things are bad then they can only get better. Therefore after a periodof crisis there will surely be strong growth and high prosperity. There are always opportunities if one is prepared to look for them.
The tourism sector, which had declined since 2008, rose sharply in 2011 and is expected to reach higher levels in 2012 and 2013. Spain seems to be finding solutions to the crisis. In times of crisis, everything tends to be cheaper: labour, projects, facilities, etc
In addition, with high unemployment in Spain, it is very easy to find the skilled and unskilled employees needed to staff any new business venture.
Perhaps the recession has another plus side too.
It is a period when life has a way of sorting out the rubbish. Maybe this is a good time to inject some new people with fresh ideas into areas that have become staid and slow. We have many such areas along the coast. Places that really could do with a kick up the proverbial and shake themselves into sorting out the wheat from the chaff.
We are all aware that there will be many people who decide to pack up shop and go back home. In fact, according to some of the local removal firms, the majority of their business recently has been the exodus of Brits returning home. Perhaps it was time for some of them to go as the Costa del Sol is changing. Although some of these changes are due to mainly negative factors, I think that our area can only benefit ultimately from this exodus. Already, a large number of Brits and other expats have left the area between Marbella to Sotogrande, probably they were unable to make ends meet in this economic climate and I am sure that there will be many more who will follow in their footsteps.
Let me be really honest here, in my opinion the whole area is beginning to feel much cleaner! Perhaps the people who enjoyed the boom and took advantage of
it to make a fast pound were less than legitimate in their intentions. I am sure we are all aware of a few chancers and the not too desirable type of people with no manners, no experience and absolutely no class, (money does not indicate class) who made money out of fiddling the system and in turn just dragged the place down to a really chavvy state of affairs.
Of course, now that the money is running out they are leaving. Good riddance! Off to find some other poor slob of a country to rip off. Many older residents who have been here for years and some of the new ones who have been disappointed at what they found are no doubt breathing a sigh of relief. I am sure that even the reputable businesses are happy to see the dregs depart. There have been too many chancers who have come over here to set up shop with no intention of ever paying full dues. It does the reputation of legitimate businesses no good at all.
This could be the right time to take that chance you have always dreamt of, if so then consider making the most of that opportunity. Check your figures and do not be afraid to negotiate and barter for the best deal. Rents for business are not laid in stone so do not be afraid to suggest a more affordable price. Whatever you may decide to do, do it properly and be legitimate in your operation. There are some good businesses on the coast who will love the idea of fair competition as that is a good basis for business. Lets keep this area clean and real. Have passion in what you wish to do and I wish you good luck.