New hope for Spanish property investors who lost deposits

[Nicholas Wallwork]

It is estimated that around 100,000 British real estate investors paid as much as £4 billion in property development deposits for Spanish off plan properties which were never completed. Many of them have failed to obtain refunds leaving the Spanish real estate market in a mess. However, a recent ruling by the Spanish Supreme Court

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I find it hard to believe that £4 billion worth of property investment deposits have been lost in Spain but if this is the figure then the banks will certainly feel the pain. It sounds like the PPI debacle all over again?