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Foreign Cash Surge Stokes Spain Property Market


Ron Burgundy
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Guillermo Campos, technical architect of the Intempo skyscraper's developer Olga Urbana, poses on the rooftop of the building on September 24, 2013 in BenidormA grand yellow-brick edifice in Madrid's poshest shopping district, the ABC Serrano mall is a Spanish symbol of tradition and elegance. Like shops, offices, and apartments across Spain, it has been snapped up by foreign buyers, who are streaming back a year after economists were warning the country faced ruin. "Since this summer there has been investment fever in Spain," said Jose Luis Ruiz, an independent real estate consultant. "There are dozens of investment funds from all the major countries, such as Americans, Germans and British, who are focussing on Spain."




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