Wednesday, Jul 16, 2008
The crisis has sent shock waves through an already troubled real estate industry and heightened fears that other property and construction companies could also fai
telegraph: Britons face losing everything as Spanish construction industry goes into meltdown
Britons face losing everything as Spanish construction industry goes into meltdown
Those buyers who have made down-payments on properties that they have not yet taken possession of could find themselves losing everything, analysts have said.
The warning came as Spain's largest property developer Martinsa-Fadesa filed for bankruptcy after failing to secure a loan as part of a 4 billion euros refinancing package.
The crisis has sent shock waves through an already troubled real estate industry and heightened fears that other property and construction companies could also fail. www.telegraph.co.uk/news/worldnews/europe/spain/2304401/Britons-face-losing-everything-as-Spanish-construction-industry-goes-into-meltdown.html"
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