Spain Business
Spanish media notes BBC reports on the slowdown of Spanish construction and the economy
By h.b. - Aug 31, 2008 - 1:38 PM
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Spanish media has picked up on a series of reports on Spain carried out by the BBC’s Hugh Pym for the BBC World News TV channel.
In particular the first report which visited the new development at Seseña, near Toledo, described by the BBC as going from ‘book town to ghost town’. The development was promoted by Francisco Hernando, known popularly as ‘El Pocero’.
The BBC report can be seen here : http://news.bbc.co.uk/1/hi/business/7584458.stm
It explains that 13,500 flats were built but less than 3,000 have been sold and only 750 people have moved in.
Spanish media have picked up in particular on the line in the report describing Seseña as the tip of the iceburg and note the numbers show that Spain was building more new homes than Britain, France and Germany put together. Construction here made up a fifth of all the jobs created since the year 2000. It says that two and a half million homes have been built here since 2004, and just over than a million of them have been sold.
A follow up report has highlighted how retailers and small shopkeepers are now suffering the consequences of the economic slowdown here.
http://newsvote.bbc.co.uk/2/hi/business/7587343.stm
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