Spanish construction activity falls 0.7% in July
Spanish construction sector activity fell by 0.7% on a monthly basis in July, compared to a slight increase of 0.2% for the EU as a whole, according to the latest figures from Eurostat, the EU’s statistics office.
Government announces half-hearted measures to revive the Spanish housing market
Last week the Spanish government announced its latest batch of half-hearted measures to throw a life line to developers, and revive Spain’s flagging housing market: A 3 billion Euro credit line for developers who put their unsold inventory of homes up for rent, and the introduction of real estate investment trusts (REIT) to facilitate property [...]
Real estate swindle uncovered in Alicante
Last Wednesday the Spanish police arrested the management of a property investment company called Riviera Coast Invest as they tried to board a private jet bound for Morocco. The 6 directors arrested are accused of swindling 1,000 clients out of 60 million Euros.
Martinsa-Fadesa court administration turning into a fiasco for buyers
Three months after Martinsa-Fadesa, Spain’s biggest residential developer, went into court administration unable to pay its debts, thousands of its clients are still in the dark as to what will become of their money. Many of them still don’t know if their stage payments are guaranteed, despite it being required by law.
Mayoress of Marbella gives order to demolish 2 illegal buildings
Marbella is full of illegal buildings, but soon there will be 2 less to worry about. María Ángeles Muñoz, the Mayoress of Marbella, has given the order for 2 illegal buildings to be torn down immediately. Both buildings are located in ‘green zones,’ and were not due to be legalised in Marbella’s new urban plan, [...]
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