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Millions of empty homes mean empty pockets in Spain

By Euro Weekly News Media • Published: 26 Aug 2015 • 11:24

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THE owners of each of the 3.5 million empty homes in Spain are missing out on at least €7,128 per year, while the public tax office could be receiving at least €4,000 if the home was rented.

This analysis was published by property website pisos.com, using data collected by the National Statistics Institute (INE).

By regions, those owners with homes in Madrid are those who could be getting the highest profit from their empty properties with a total of €11,304 on average per year, followed by the Basque Country (€10,668), the Balearic Islands (€8,616) and Catalonia (€8,100).

Andalucia is the community with the highest number of uninhabited homes, and it is estimated that at least €4 billion revenue could be generated if they were rented, followed by the Valencian Community with €3.6 billion.

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Comments

    • miguel de la o

      27 August 2015 • 03:37

      So why are they not rented – no renters or regulations
      regarding rentals?

    • Mike

      27 August 2015 • 08:31

      Different things I guess, Andalucia and Valencia the highest and that must be where the highest number of foreign owners are, foreign owners tend to be fairly honest and abide by regulations so that might be one of the issues in those areas.

      Spanish property rentals directed at foreigns tend to be higher in price so that might affect things also, along with there not being the tourist demand as there was, if we listened to the government and the press we should be coming down with more tourists than ever but I doubt that from my experiances of what I see and have heard along the Mijas coast and Fuengirola areas anyway.

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