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Rouble tumble busts Russian property buying boom in Spain

Spanish real estate agents knocked back down just as they were recovering from stricken market

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Sale signs written in Russian in the window of a Spanish property agency. Agents fear Russian authorities are now encouraging their compatriots to stay home and buy holiday villas on the Black Sea coast.

Madrid

SPAIN was counting on rich Russians to help revive its stricken property market by buying homes on its sunny coasts - until the rouble collapsed on falling oil prices and the Ukraine crisis.

The sharp fall of the Russian currency, driven by slumping oil prices and sanctions