Is the beach party over for the 'Florida of Europe'? by Dale Fuchs
The signs at the Málaga airport say it all. "England is closer than you think," reads an airline banner advertising one-way air fares of €55. "Come and see us, we speak YOUR language," urges the billboard on a real estate agency kiosk planted in front of the baggage carrousel.
About 600,000 EU citizens are officially listed as permanent Spanish residents - one of the largest intra-EU migrations on record. Roughly 1.7 million - mostly Germans and British - own a second home in Spain, according to Live in Spain, an association of Spanish residential developers.But after building at fever pitch over the past 10 years, the beach party seems to be winding down. Property prices on the Spanish coast are losing momentum, growing now by only 5 percent to 10 percent a year.
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