Viva Estates, one of the largest estate agents on Spain's Costa del Sol, has closed all but one of its offices, the latest victim of the downtown in the country's real-estate sector. The company, which sells flats and homes to a mainly British, German and Irish clientele, has shut 13 offices and now operates only out of its main office in Marbella.
It comes after the dramatic slide of Inmobiliaria Colonial SA, the third biggest real-estate company, last month. The president, Luis Portillo, was forced out after a share-price fall of 61.37 per cent in six months.
