Photo Gallery Housing Market Collapse
Spain's economy is on the rocks. After a spectacular boom, the housing market has collapsed. The crisis is now spilling over into other sectors: the country is slipping into recession.
Seseña near Madrid: Half-finished apartment blocks blight the landscape. Out of 13,500 planned homes only 5,000 have been completed -- most of which stand empty.
Foto: Reiner Wandler
Building site in Pamplona: For years Spain's housing market boomed. Prices rose by 500 percent in the last decade.
Foto: AP
Housing development near El Arenal on Majorca: Even well-paid homeowners are being severely squeezed by rising interest rates and inflation.
Foto: DPA
Martinsa-Fadesa development in north west Spain: It's only a question of time before other developers get into trouble.
Foto: AFP
Fishermen's strike in July: Their livelihoods are being threatened by low demand and high fuel prices.
Foto: AFP
Nationwide truck blockade in June: Rising fuel prices also threaten this industry.
Foto: REUTERS
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