Reply To: Stuck in Spain unable to sell up and go home?

#91523
Anonymous
Inactive

The big difference between the UK and the Costa Del Sol (not all of Spain) is that more or less the entire economy was based on the property market in one way or another in either holiday or retirement homes for Northern Europeans. Those of working age on the Costa Del Sol are finding it impossible to find work. Those retired have had there income cut by about 30% ( exchange rate). Those with holiday homes are drastically reducing the amount of time they are spending in Spain.

Because of this the bars and restaurants are closing and there owners no longer have an income.
The retail shops have little business any more with the massive reduction in other nationalities spending.
The swimming pool people, air conditioning and general builders are all going slowly broke, not even mentioning those working in that dreaded timeshare industry that are also out of work (Whatever you think they used to spend money)
I feel that most of the infrastructure of the Costa Del Sol will collapse from all these problems.
By the way I have also heard that the golfers are staying away and this is high season for golf tourism.
I’m sorry to say that those struggling on will have to admit defeat in the end and those that are not that badly affected financially will find more and more closed shops, bars and restaurants and those living on urbs will end up in decaying ghost towns with mostly squatters and Gypsies for neighbours.
None of this I would want to happen and I hope I am wrong but I don’t think so.
Also as an afterthought, don’t forget how many Spanish nationals were dependant on property here. Goodstich may not worry about the Lawyers and Notaries, but they employed staff and spent money, as for the constunction workers THEY are TOAST.
Its all very sad.