http://www.telegraph.co.uk/news/worl...-meltdown.html
Those buyers who have made down-payments on properties that they have not yet taken possession of could find themselves losing everything, analysts have said.
The warning came as Spain's largest property developer Martinsa-Fadesa filed for bankruptcy after failing to secure a loan as part of a 4 billion euros refinancing package.
The Spanish government has refused to come to the financial aid of the troubled property group, insisting that the private sector must be responsible for solving its own problems.
Those buyers who have made down-payments on properties that they have not yet taken possession of could find themselves losing everything, analysts have said.
The warning came as Spain's largest property developer Martinsa-Fadesa filed for bankruptcy after failing to secure a loan as part of a 4 billion euros refinancing package.
The Spanish government has refused to come to the financial aid of the troubled property group, insisting that the private sector must be responsible for solving its own problems.
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