19 April 2006
MADRID — Expats are emerging as a driving force in the Spanish economy, boosting demand for new housing, analysts say.
House-buying by expats helps to sustain the country’s construction boom, reports the British daily The Financial Times.
"There is no risk of a property crash in Spain in the short or medium term thanks to new demand generated by immigrants," says Angel Berges, a partner at Analistas Financieros Internacionales, a Madrid consultancy.
