Insolvency forces Spanish developer Habitat to seek protection from its creditors
After months of desperate manoeuvrings to try and avoid bankruptcy, the Spanish developer Habitat has finally thrown in the towel, filing for administration this morning in Barcelona. With debts of 2.3 billion Euros, Habitat is the second largest developer to be forced by financial problems to seek protection from its creditors this year, after Martinsa-Fadesa.
Property market shrivels by 30% in third quarter
The Spanish property market shrivelled by an annualised 30.4% in the third quarter of the year, according to the latest quarterly report on the market from Spain’s property registry.
New regulations announced for holiday rentals in the Valencian Region
Angelica Such, the Valencian Region’s Minister of Tourism, has presented draft regulations that will affect holiday rentals in the Valencian Community, home to the Costa Azahar and the Costa Blanca.
Cement wall throttling Spanish coast increases 22% in 6 years
The Great Wall of China may be a big tourist attraction, but the Great Wall of Spain – the wall of ugly development along much of the Spanish coast – must surely bear a heavy responsibility for Spain’s declining popularity as a tourist destination.
Spanish construction sector output falls 24% in September
Spanish construction sector output in September fell by 24% compared to the same month last year, the biggest fall of all the EU countries analysed by Eurostat – the EU’s statistics office.
On a monthly basis, construction activity fell 7.8% in September compared to August, the second biggest fall in the EU after the UK, [...]
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