The Scandal of Empty Homes in Spain and Europe

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This topic contains 5 replies, has 3 voices, and was last updated by Profile photo of angie angie 2 years, 9 months ago.

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  • #57947
    Profile photo of logan
    logan
    Participant

    The Guardian this morning is running articles on the scandal of 11 million properties standing empty across Europe including an estimated 3.4 million homes vacant in Spain. Whilst millions are homeless and living rough.

    http://www.theguardian.com/society/2014/feb/23/europe-11m-empty-properties-enough-house-homeless-continent-twice

    The article also has a piece describing the illegal black market trade around Madrid where gangsters are selling empty bank owned properties to homeless Spaniards at cheap rents. In the Basque region and around Barcelona tax hikes are now being imposed on property owners, usually banks who leave properties lying empty and unused whilst so many are homeless.

    http://www.theguardian.com/society/2014/feb/23/spain-property-black-market-housing-madrid

  • #119228
    Profile photo of angie
    angie
    Spectator

    The article mentions 3.4 million homes standing empty in Spain, an incredible number, plus, the half built numbers. So Approx 4 million which I suppose could house 12-16 million extra people if taken over by Government/Councils legally as opposed to this mafia run squatting and letting illegally.

    Lost revenue and taxes for Spain, dilution of average property prices maybe, these homes need to be cleared off the books to bring any semblance of reality to the market ๐Ÿ™„

  • #119230
    Profile photo of logan
    logan
    Participant

    The obstacle to housing the homeless in these properties comes from bankers who lack imagination to turn them into thriving communities and simply believe they can rid themselves of them when the market turns. Also a government who could not care less for the homeless and unfortunates evicted from their homes when they lost their means of support.

    The sheer scale of empty property in Spain is staggering. The over supply will take a generation to sell off.

  • #119232
    Profile photo of angie
    angie
    Spectator

    Good post logan, such matters need to be aired if only to help others avoid this black market situation, you’d have thought after all these years that the Spanish Government would have addressed all these issues. They’re certainly not helping the more honest agents in Spain, I can see a time when the old boom and bust days will return as well as the timeshare sales agents along the coast ๐Ÿ‘ฟ I really hoped mis-selling and non transparency were over with in Spain ๐Ÿ™„

    May be worth checking Eye on Spain website as they have permanent links to individual topics ๐Ÿ˜‰

  • #119233
    Profile photo of katy
    katy
    Spectator

    I may not bother stating my view seeing as topics may be locked due to advertising interests ๐Ÿ™„ ๐Ÿ˜ˆ ๐Ÿ˜ˆ ๐Ÿ˜ˆ

  • #119234
    Profile photo of angie
    angie
    Spectator

    Logan is a good guy katy always posts relevant topics, very knowledgeable of the Spanish property market and things to watch out for. Hope he doesn’t leave now, impartial advice is necessary to potential buyers to make informed decisions ๐Ÿ˜‰

    I’d noticed an advert on here yesterday morning at the time a topic was locked, same subject too, but that disappeared an hour or so later, not sure what to think ๐Ÿ˜• ๐Ÿ™„ ๐Ÿ™

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