Javea Estate Agents
There are over 50 estate agents in Javea. Many we work with have been there for years and well established and some come and go as with most businesses.
On first impression one would think there are ten's of thousands of properties for sale. The fact is there are not that many because each property is usually with several or more agents so it gives a false impression. There are also diverse price bands which also reduce the choice even more. The bulk of the property for sale is still well over 500,000 euros. Well located quality property within a common affordability band of say 200-300,000 euros for a villa with a pool is minimal and they tend to be renovation projects requiring circa 50 - 100k spend.
Spain is said to be in deep recession but in many of these exclusive coastal parts of Spain, like Javea and Moraira, it attracts European wealth so it's not the real Spain because the property owners earnings are made outside of Spain in most cases.
Real Spain has mass unemployment and the not so desirable coastal areas of Spain have thousands of un-sold properties on mass housing estates which they can't give away to the likes of us northern Europeans. What will happen with them I often wonder? Maybe the Spanish government will buy them from the banks for cheap housing courtesy of the tax payers! Other than that a bulldozer sounds like a good solution.
Our Experience as Estate Agents in Javea
Thankfully we invested in a wealthy area of Spain and although it's taken a knock it's far from a write off, unlike certain areas south of Alicante. Fortunately we have maintained demand through tough times hence so many estate agents still open, so it's a good sign really. Better that than agents going to the wall. Now that would be scary for us all, so it's a bit of a barometer don't you think? I can't see demand for property sales shrinking more than it already has - especially in these prosperous areas. Europe will sort itself out, sooner or later, and regardless of what happens to the euro it's not going to happen over night. Approximately 320 million people use the euro and if anything should happen I am sure it will be a gradual change rather than a full blown catastrophe. There is no sense in meltdown and leaders need time to sort the obvious differences out, then each problem of any magnitude can be dealt with.
One way or another the stronger countries will need to help the not so strong and they have many ways of doing this but it will take time to resolve. It's about the stronger countries protecting their own interest to remain competitive and productive to one degree or another and they have been enjoying the transfer of wealth for some time. There would be far less money to be made by the more productive nations if they allow the euro to collapse or big member states to leave.
If countries as big as Spain went back to their old currencies they would inevitably devalue to become very competitive again, like they did in Argentina and then others would follow. The stronger nations do not want this to happen as it would all be "too much too soon". If it did happen it would be tough to start with but the longer term plan would mean countries like Spain would become very cheap and competitive again and unemployment should fall sharply. I really can't see the EU letting this happen and I think stability is on the horizon at some point in time soon or at least before Spring 2013.
To put things into perspective : for year 2011, Greece was only 1.9% of total EU GDP (gross domestic product is the market value of all officially recognized final goods and services produced within a country in a given period) Spain 8.7% , Italy 12.7%, France 15.8 %, UK 13.9% , Holland 4.8% and Germany 20.2% . The rest are all under 3% like Portugal at 1.4%.
The economy of the European Union, according to the IMF is the largest economy in the world with a combined GDP of over €12.629 trillion euros per annum. For more info regarding the European Union see this link
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