Amazing Satellite Images Of Spanish Ghost Towns -- Abandoned Since The Crash
- ️Gus Lubin, Leah Goldman
- ️Fri May 27 2011
The collapse of Spain's booming housing market has left near-empty or abandoned residential development across the country.
Each failed development represents a loss for the banking sector, which admits to $240 billion of problematic exposure and is probably exposed to more. As home prices keep falling and unemployment soars, banks will face further writedowns.
Giant ghost towns like Valdeluz and Sesena have been profiled in the New York Times and the Guardian.
But they are just the tip of the iceberg. Rafael Valderrábano, director of Basico Homes in Madrid, told us "more than ghost towns, the real problem is the large numbers of small ghost villages surrounding big cities."
HORCHE: This village near Valdeluz has 1,175 inhabitants. It was planned for triple that population
CHILOECHES: Only 1,684 inhabitants live amid unfinished construction and vacant homes
QUER: Only 449 inhabitants in a town planned for thousands
ALOVERA: There are only 5,636 residents here, amid open space and unfinished construction
YUNCOS: This town near Toledo has about 6,000 residents. Unfinished developments could triple the population
LA SERENA GOLD RESORT: This vacation resort is one of three in a 20 km radius. Much of it remains empty even during holiday time
SOTO DEL HENARES: More than 13,500 homes have been built, but only about 3,000 people live here
CALLE OJOS DEL SALADO: A new housing development on the outskirts of Granada sits completely empty
Source: Ben Roberts
SALOU: A tourist town, thousands of the apartments and vacation homes remain empty, even during peak summer months
Source: Ben Roberts
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