Viva Estates agency that claims to be the Costa del Sol’s largest has laid off 120 of its 160 staff.has shut 95 per cent of its offices in a bid to fight the current recession.
The company has seen sales figures drop by over two thirds since 2003.
In 2007 the agency achieved just 550 completions, in comparison to 1,500 in 2003.
In a desperate bid to save the business, it has shut 13 out of its 14 offices, including flagship branches in Puerto Banus, Fuengirola and Alhaurin, and cut back on its huge UK advertising bill.
Blaming the collapse on the internet and the corruption scandals that have engulfed Andalucia,
“The boom brought a lot of cash to the Costa del Sol and every Tom, Dick and Harry coming in to try and make money.
“But most clients now use the internet and where offices were getting an average of 60 walk-in clients a month five years ago, last year they got just six
“With various town halls raping their coffers to the tune of hundreds of millions of euros it has not helped.”
The company is now functioning on a skeleton staff of 40 from the main office in El Rosario, between Marbella and Calahonda.
“I am optimistic that we will still be here when the market comes back. I lived through the last boom, when no-one had any money and everyone drove old bangers.
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