Banks in Spain are aggressively curbing loans in fallout from US sub-prime woes.

(MADRID) Julia Gavin sold more than a house a week as the Spanish real-estate boom peaked last year. Now that business is drying up, she’s sharing leads with competitors, reckoning a partial commission is better than none at all.

Crunch amid the calm: Three-quarters of Spain’s 60,000 property companies may end up bankrupt because of a drop in both demand and liquidity, says analyst Fernando Rodriguez de Acuna M

‘We’re up to our ears with work, but no sales,’ said Ms Gavin, 52. ‘It’s horrible.’

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