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24 Apr 2007 12:00 AM by ace Star rating. 310 posts Send private message

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an extract from the news today

Spanish shares plunge on property fears

listen

Worries about the health of the Spanish property market have hit shares across Europe this afternoon.

Stocks in Dublin were down almost 2% knocking almost €1.5 billion from the value of shares here.

Banking shares closed lower because of fears for the billions of euro Irish investors have tied up in Spanish properties.

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Spain has had building bonanza since the mid 1990's and many property companies on the Madrid stock exchange have seen their value double over the past year.

However, there are concerns the Spanish housing sector is cooling off and in some areas the value of property is falling.

In Madrid, the unease over the housing sector was triggered by  the collapse of shares in Spanish property company Astroc, which  have lost more than 60% in less than a week, after an auditor's report raised concerns over its finances.

European stock markets were also concerned on comments on the Spanish property market by the president of French construction firm Eiffage,  Jean-Francois Roverato.

Roverato justified rejecting a takeover offer from Spanish  construction group Sacyr on the grounds that the Spanish firm's real  estate assets in its home market 'could very soon be revised down.'

In Madrid the Ibex 35, which has struck record highs in recent  weeks, closed down 2.7% this evening.


 


 

any comments............


 

Ace.............




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24 Apr 2007 10:36 PM by gerryboland Star rating in ek and trampolin hil.... 119 posts Send private message

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YEP FOR THOSE OF US WHO BOUGHT FOR HOLIDAYS AND LATER RETIREMENT

NO HAY PROBLEMA

 


_______________________
regards Gerry



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24 Apr 2007 11:23 PM by ace Star rating. 310 posts Send private message

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I think its great the way it looks like planning is going to be hard got from now on so demand will far exceed supply and the only way is up for prices.


Great news today for owners but i wouldn't like to be a developer who has bought the next field with the profits from our developments for a lot more than whats its worth expecting to get planning on it.

election fever id say.

Ace.............



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26 Apr 2007 5:25 PM by JC1 Star rating in Manchester and La Du.... 963 posts Send private message

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I am concerned that developers could stop developing those developments underway , and leave a host of half completed sites everywhere.

_______________________

Regards

 John

 


 

 




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28 Apr 2007 11:25 AM by Fly380 Star rating in Las Filipinas, Orihu.... 253 posts Send private message

Thats just what Technologia Urbanistica are doing now.



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