Madrid (AFP) – Spain was counting on rich Russians to help revive its stricken property market by buying homes on its sunny coasts — until the ruble collapsed on falling oil prices and the Ukraine crisis.The sharp fall of the Russian currency, driven by slumping oil prices and sanctions over Moscow’s backing for separatists in Ukraine, knocked some Spanish estate agents back down just as they were staggering to their feet.”Russians are not buying right now,” said Ramon Riera, president of FIABCI Espana, a grouping of 120 property specialists.”What’s more, some Russians are actually getting rid of their properties here …read more
Source: Business Insider
