Financial Times FT.com

Spanish property boom ends

By Leslie Crawford in Madrid

Published: April 24 2007 21:32 | Last updated: April 24 2007 21:32

Spain’s overpriced property stocks came crashing down on Tuesday, with panic selling in the real estate sector signalling the end of a 10-year-old construction boom.

The sell-off dragged down related industries such as construction and banking and caused a 2.7 per cent drop in the Ibex 35 index of leading shares. The fall also rippled through other European markets as investors worried about its knock-on effects.

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