The Rouble and Spain

The sudden fall of the value of the Russian Rouble must have some affect on the Spanish economy especially in the tourist trade and construction industry.

During the last few years Russians have been persuaded by the tourist industry not only to visit Spain but to purchase property. It was hoped they would replace the British/German/Dutch and Norwegians who were no longer buying property.

Those Russians who have bought property will be in a good position financially but new comers will find property prices very expensive due to Russia's currency problems. Will this lead to further falls in the value of properties ?

Where will the construction industry turn to now ? I would imagine that the Chinese or Indian buyers will only be interested in the major cities and not the coastal tourist areas.

Watch developments with interest.