The Urban Development department of Torrox Council ended 2009 with a deficit of €200,000 and the first three months of 2010 are not looking particularly healthy.
Rincon looking at 80% drop in urban planning revenue
Rincon de la Victoria, like many municipalities, relies heavily on revenue from the issuing of building permits in order to finance their budgets and the town, again like many others, is suffering the consequences of the recession in the construction industry.
Torrox has houses, but no buyers
Torrox, which benefitted greatly from the real estate boom during the early part of this decade, is now suffering badly as a result of the recession in the construction industry.