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Whereever you go in Spain at the moment people are talking about the "Crisis" and how bad and deep it will be. There is a deep recession in Spain without doubt but some positives may come out of it and some have already happened. In this article I want to point out some of them. The recession has reduced the very high interest rates that existed last year. The average Spanish mortgage has reduced by some 500 Euros per month compared with the same month last year. This is a decent amount of extra money in the pocket to spend on other things. Loan repayments have also gone down making even more money circulate in the economy. Secondly, the value of property has tumbled. For a seller I won't try to claim that this is good news but for a canny buyer the availability of well priced properties for you to live under the Spanish sun in getting better by the day. If your interest is in buying a property for lifestyle reasons as opposed to an investment then you get a lot better value for money now compared with a couple of years ago. The next issue is that this combination of lower prices along with the low interest rates has meant that fixed rate mortgages on properties are at an affordable level. It is now possible to get a property that might well make you money on a buy to let basis. This was nigh on impossible in the years 2006 and 2007. For an estate agent like myself the best news is there is much less competition in the marketplace. The sharks are now gone and only the best remain as 70-80% of estate agents have gone out of business or gone underground. To start a business in Spain there is an excellent workforce that are highly qualified waiting for a job. Spain has a very large proportion of its young people unemployed and they are just waiting for a chance to show what they can do. When you put this resource together with the great transport infrastructure of roads, air and most especially rail you have a really good opportunity to open up here. Lastly, if the recession means that Spain will make the necessary changes in the workplace and thus becomes more competitive. If Spain develops its reneweable energy sources, its transport know how and technological ability then the current world recession is a great opportunity to develop the economy. Spain still remains a fantastic place to live as the fundamentals of the climate, the location and the lifestyle are all in place. Spain remains the place that the Northern Europeans come to play simply because of its geographical location. Perhaps the country only needs to believe in itself a bit more.
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Graham Hunt lives and works around Valencia in Spain. You can read more by AuthorName] at the website Houses for sale in Spain The introductory video post tells you how to navigate the site. For even more great information on Spain Follow On Twitter
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