A third of all empty homes in Europe are found in Spain

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Pioz, Spain has become a ghost town. CNN’s Richard Quest reports on the reminder of the country’s property crisis.

home ownership rate in Spain decreased to 76.30 percent in 2018 from 77.10 percent in 2017. Home Ownership Rate in Spain averaged 78.73 percent from 2007 until 2018, reaching an all time high of 80.60 percent in 2007 and a record low of 76.30 percent in 2018. This page provides the latest reported value for – Spain Home Ownership Rate – plus previous releases, historical high and low, short.

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Between 2007 and the third quarter of 2012, there were 400,000 foreclosures in Spain, according to data from the General Council of the Judiciary. “I heard that there were empty houses and I came. I had no other choice. I could not pay rent,” said Antonio, a 22-year-old living with his wife Encarni, 19, and their two-year-old daughter.

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Up to 1.4 Million Empty Homes in 12 provinces posted on December 8, 2014 in Property by According to a recent study carried out by Alquiler Seguro on the rental market in Spain in 2014, there are as many as 1.4 million homes sitting empty in just 12 of Spain’s provinces.

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Of all the European nations, Spain is the biggest culprit with around 3.4 million empty properties currently unoccupied or 14% of all Spanish properties. Spain has become the leader in this field is due to the large demand from UK and German investors looking to purchase holiday homes in the sun during the boom years between 2000-2008.