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Real Estate Briefing - Categorized | Construction, Developers more

Spain’s boom-era building gear sold as developers cut off

Posted on 27 September 2012

Angel Fernandez used to travel to the Netherlands to buy equipment for Spanish homebuilders when they were powering Europe’s third-biggest construction market. Now he watches as buyers come to take diggers, excavators and trucks to countries where they won’t just gather dust.
Standing in a sunburned field in Ocana, a 90-minute drive south of Madrid, 41-year-old Fernandez looks on as never-used construction equipment is sold at discounts of as much as 20 percent through Ritchie Bros. Auctioneers Inc………………………………………..Full Article: Source


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