In Spain, there are «ghost towns»

22.06.2011 01:30
Articles about real estate | In Spain, there are «ghost towns» Spain attracts tourists for its beaches and architectural wonders. But now there were new "attractions", which local journalists have been given the prefix "anti". It is a unfinished residential areas, vacant homes and abandoned apartments, writes

Mainly these properties are located in the suburbs of big cities and resorts around. Spaniards call their ciudades fantasma: ghost towns. Anyone who wants to understand the challenges faced by Spain - and indirectly to other eurozone countries - must follow it, "antituristicheskim" route, said Guardian. One of these abandoned cities - place Valdelus in Guadalajara. Just 30 minutes by high speed train from Madrid - and you are there. Valdelus was supposed to be "sleeping" the city with 9,5 thousand houses, which could accommodate 30,000 residents. But developers have managed to build only 1,5 thousand objects that provide housing only 700 people.

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Joaquin Ormasabal - one of those who have managed to get accommodation in Valdeluse. However, he is now not sure that this is a big success. A man bought a two-bedroom apartment in a building under construction four years ago for 240 thousand euros. Today, his property is worth less than 140 thousand euros.

Joaquin demonstrates the "sights" of the abandoned city: a vacant lot, which was supposed to be parking for 2,000 cars, shopping center, where the rebuilt only one tier, the school, which should have been studying 1,7 thousand students, and learn to just 300.

History of the Spanish indicative of the current situation in the real estate market of the country. Charmed credits available residents bought property and were not ready for what the market would collapse overnight. Halt the collapse and the government could not: at the beginning of 2008, when the banking crisis only threatened the country, Prime Minister Jose Luis Rodriguez Zapatero, has dismissed some economists, calling them the concerns of the real estate market "antipatriotichnymi. And announced that very soon the Spanish economy is the pace of its growth will overtake France. However, this did not happen.

Now the real estate market of Spain is going through hard times. But many experts believe that the country is still coping with financial troubles better neighbors. In contrast to Portugal, behind Spain's - a decade of economic development. Unlike Italy, Spain managed its public finances "iron hand". In contrast, Greece, Spain, the situation is stable with the state budget.

Experts predict that Spain's property market will recover from the crisis long enough. As many as 10 years, Spain had offered its citizens the ultra-low interest rates on mortgages - and thus the market formed a huge bubble. Besides, today every fifth Spaniard - are unemployed, and few economists believe the change in the statistics for the better in the foreseeable future.

Joaquin said he was still lucky - he has a job at a local bank. Many of his neighbors - the unemployed, the soul who hang mortgages for 300,000 euros, even though they bought the house is now worth a maximum of 200,000 euros.

Content tags: Overseas property
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