Bankruptcy proceedings started against notorious developer Aifos
Aifos, a notorious holiday home developer based in Marbella, has been forced into receivership by one of its creditors , the Spanish press reports.
La Manga Club seeks protection from its creditors
The world famous La Manga Club resort in Murcia, a popular destination with celebrity footballers from Real Madrid and Manchester United, has been forced to seek protection from its creditors. One of Spain’s flagship holiday and residential resorts, La Manga Club is the first Spanish resort of its calibre to succumb to the economic crisis.
Holiday home sales on the Costa del Sol back to 1983 levels
Sales of holiday homes on the Costa del Sol have collapsed to levels last seen back in 1983, according to a recent article at the Spanish consumer website consumer.es.
Spanish developer Tremon goes into administration
The Spanish developer Tremon (Grupo Tremón) has been forced to seek protection from its creditors as it struggles under the weight of 900 million Euros in debt. Tremon is the second largest Spanish developer to fail in the Spanish property market crash after the collapse of Martinsa-Fadesa.
Glut of newly built homes in Spain rises by more than 20% in just 6 months
The inventory of newly built Spanish homes languishing on the market in search of a buyer rose by 20% in the first 6 months of the year, according to a recent article in the Spanish daily ‘El Pais. Most of the unsold homes are located on the Spanish coast and around Madrid.
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