As Spain rides an ever-ending economical crisis wave, and with contradictory reports about a final recovery, we take a look at why the property market has become so stagnant over the last few years, and how property investors can take advantage of the current situation.
Mountain View, CA -- (SBWIRE) -- 12/03/2013 -- Spain, loved by many for its all year round warm climate, is still struggling to pull through the economic crisis, as the European Commission still demands more cutbacks in order to get the national banks and savings banks funded again. Just to contradict that message, the President of Banco Santander "Emilio Botin" recently said in New York that money was literally pouring into Spain from all over the world... His surname actually means "Bounty":)
A local UK resident "Andrew Edgington reveals on his blog about El Campello that there are still 10s of thousands of new build properties to be sold at reduced prices, with the resale market being saturated with properties being sold at prices not seen for the last 10 years. He goes on to say that what is actually stopping these properties being sold is the massive stock pile of repossessed properties now owned by the banks, who are only interested in granting mortgages to people for their own property stockpile, making it very difficult for people to sell their properties to any buyers requiring a mortgage. Because of the now desperate need for people to sell their property in order to avoid repossession, prices have dropped around 40% compared to asking prices just 3 years ago.
Property indicators are saying that this is without a doubt a cash buyers market, with purchasing a property to be viewed as a good long term investment, and many investors from the UK and other northern European countries have already began to see that buying a property in El Campello is also a way to make money though holiday lets. El Campello is ideally situated 15 minutes north of Alicante with about 330 sunny days a year, and only 2 weeks ago was still having temperatures of 25 - 30 degrees, and they still remain at 15 - 20 degrees through December.
El Campello has a population of about 25000, and everything is very central, with a great tram connection for Alicante and Benidorm, so you don't necessarily need a car to live here. The town is full of small bars and restaurants, and there seems to be a supermarket on every street corner. There are also English type food shops and restaurants, so you don't necessarily have to change you life style to live in El Campello. There are also several beaches including the only beach apt for dogs in the whole of the province of Alicante, so El Campello would appear to be a forward thinking town, and is always ready to develop new ideas to make Europeans living in El Campello feel comfortable in their new surroundings
About El Campello Apartments
"El Campello Apartments" is not only a property blog, offering a new concept in property sales with 100% transparency, and the will to help UK property investors find the ideal holiday rental property as a business investment in El Campello, but also provides all the local information about the town of El Campello you will ever need to know. Click here to find out more about El Campello
El Campello Apartments Address: Avd Germanies, 4, El Campello, 03560, Alicante, Spain. Contact email: campelloapartments@gmail.com Website: http://www.campelloapartments.blogspot.com