According to a report by the Association of Traders and Businesses in Vélez-Málaga (ACEV), twenty-five percent of the commercial premises in the central streets of the town are currently closed as a result of the financial crisis.
Many of these premises were formerly the offices of various banks. In the past two years, a dozen branches have closed their doors.
ACEV recorded a total of 200 commercial premises in the heart of Vélez-Málaga, of which 50 displayed ‘for sale’ or ‘for rent’ signs. Some of these have been displaying the signs for several years.
A similar study carried out in 2007 showed 18% of premises empty. The most affected areas are avenida Vivar Téllez on the way in to Vélez, calle Lope de Vega in the old historic centre and calle Canalejas.