Financial Times FT.com

Commercial property: Scarcity of land pushes up prices

By Mark Mulligan

Published: October 25 2005 17:02 | Last updated: October 25 2005 17:02

First-time visitors to Spain expecting to emerge from the airport into a rustic idyll of whitewashed villages or romantic cities dominated by medieval castles are often disappointed.

With its seemingly endless housing sprawl, mega-mall developments, logistics parks and roadside hoardings 21st century Spain often looks more like suburban America than old Europe.

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