The economic crisis has resulted in numerous building projects being halted before they have been completed, with unfinished blocks of apartments to be seen in most of the island's towns. The banks' sudden halt on granting credit has left promoters unable to find sufficient finance to complete the work, as has the stagnation of the property market which has left them unable to sell the flats. As a consequence many blocks of apartments have been left in a partially completed state resulting in the loss of jobs and creating an eyesore on the urban landscape.
Menorca | English pages
Promoters unable to complete projects due to property market stagnation and credit squeeze
Mainland investors buying unfinished apartment blocks
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