13pc of Spain’s housing stock lies empty, whilst around half of all young adults can’t afford to fly the nest.
3.4 million Spanish homes lie empty – or 13pc of the total housing stock – according to a new report from IDC. There are 676,000 empty homes in Barcelona and Madrid alone. Of the two, Barcelona has the biggest problem.
This is a “worrying situation with very negative consequences, principally a huge cost,” explains Carlos Parra, Director of IDC, quoted in the Spanish press. The empty homes are neither for sale nor for rent.
At the same time, tens of thousands of homes are being repossessed, and millions of young adults can’t afford their own home.