3.4 million empty homes, falling prices and foreign money: the Spanish housing crisis by numbers

                             Picture: Billy Ehrenberg 

Additional reporting by Nassos Stylianou (@nassos_)

Spain has the highest number of empty houses in Europe: 3.4million of them at a time when many are facing evictions for defaulting on their mortgages. House prices in Spain are also at an all-time low, according to Instituto Nacional de Estadística (INE) numbers for December 2013.

What is more with prices so low, record numbers of foreigners have been flocking to buy houses, with numbers tripling since 2009.

These things in themselves are not news; we’ve know this for a while and it’s been well publicised in the press both in Spain and abroad.

What is an interesting exercise is to look at where these empty homes are and how much house prices have dropped in those regions.

We don’t have the data for where exactly expats are buying the most houses, but we can make an educated guess that it will be on the Costa del Sol and the Costa Brava.  

To read the rest of the story, follow this link.  http://blogs.elpais.com/trans-iberian/2014/04/34-million-empty-homes-falling-prices-and-foreign-money-the-spanish-housing-crisis-by-numbers.html

 

 

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