05:47
"for sale" signs are the most stark warning yet that the Spanish property bubble has finally burst. Here in Southern Spain, bitter expats talk about "Helldorado" - paradise that has mutated into a nightmare. Tumbling property prices, a glut of new properties still flooding onto the market and rising Spanish interest rates are taking their toll. Added to this, illegal building practices mean that 100,000 coastal homes are now under threat of demolition. And to make matters even worse, the pound has fallen almost 12 per cent against the euro over the last year, leaving many British residents even further out of pocket.
Posted in: Southern Spain
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