Llanera suffers financial troubles in Spain

December 5, 2007

Due to liquidity problems the Spanish property developer Llanera filed for protection from its creditors on Monday 1 October, the first major Spanish developer to do so. Llanera specialised in developing second homes in the Valencian Region and Murcia, and spent heavily on marketing in the UK, where it sponsors Charlton Athletic FC. It is unclear what will become of the Llanera’s ongoing developments, and how buyers on these developments will be affected. Llanera is unlikely to be the last Spanish developer to run into financial difficulties, so buyers on new developments in Spain would be well advised to ensure the financial status of developers before they buy. For an extensive choice of safe property for sale in Spain on the Costa Blanca and Costa Calida, visit the Novocasa website.