Rouble tumble busts Russian property buying boom in Spain
Spanish real estate agents knocked back down just as they were recovering from stricken market
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 over Moscow's backing for separatists in Ukraine, knocked some Spanish estate agents back down just as they were staggering to their feet.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co