Renta Corporacion has warned that the 'serious liquidity crisis' in the financial markets is having a direct impact on its business. The Spanish property company reported losses of EUR 8.7mln in the first quarter of 2008 as housing demand in Spain fell by 24% year-on-year in February after falling another 27% year-on-year in January, according to the Spanish Statistics Institute, INE. 'The financial conditions affecting possible buyers have a decisive impact on the company's turnover', the company said in a statement. For the financial year 2007, Renta Corporacion posted net income of EUR 35mln.
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