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Foreign cash reviving home building in Spain

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Foreign funds desperate for a return on their investments at a time of ultra-low interest rates have flocked to Spain as the 2008 crisis has knocked around 40 per cent off property prices.

Madrid

RESIDENTIAL construction is coming back to life in Spain eight years after a property crash, with foreign investment pouring into developments in Madrid and Barcelona, and a jump in building permits pointing to more growth to come.

Half a million newly-built homes remain