Pain in spain

The volume of new residential properties in Spain constructed is expected to fall by as much as 25 per cent by the end of 2009, according to a report by the Fundación Laboral de la Construcción...

Residential building activity levels have fallen over the past year or so, culminating in the loss of hundreds of thousands of jobs, due to the global financial crisis, an oversupply of Spanish properties, and a fall in demand for Spain property. Experts project that the new build figures in Spain will remain low until the end of next year.

The construction labour foundation basis its projection on the amount of cement used by Spain property developers, which dropped by 24per cent last year, the largest fall in a decade, while demand for cement has fallen even further so far this year.

Source: www.homesoverseas.co.uk/news