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108'000 Builders in Spain no longer in business

Source: Spanish Property Insight - Mon 26th Jul 2010

Spain's Fundación Colegio Libre de Eméritos Universitarios has released some startling figures on the extent of the crisis faced by Spanish builders since the market crashed in 2008.

The report states that 108,000 builders, or 64% of the total, have folded over the course of the last 12 months alone.

Although it is almost always the larger builders and developers who hit the headliens when they struggle, the majority of failures were from small and medium-sized companies, says the report.

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