Satellite Images Show Spain's Expensive New Airports Are Empty Too

imageStill no flights at Castellon’s $213-million airport
imageCiudad Real’s airport was forced into bankruptcy

In addition to Spain’s uninhabited housing developments, millions of dollars in unused infrastructure is wasting away.There’s a $213-million airport in the town of Castellon, which hasn’t had any scheduled flights since it opened in March, according to The New York Times. Another white elephant is the privately-held airport in Ciudad Real, which entered bankruptcy last year for lack of traffic.

Spain is similarly overstocked with highways — after adding 5,000 kilometers in 10 years — and high speed rail — after becoming Europe’s biggest HSR network in December.

All told Spanish banks hold over $300 billion in toxic real estate assets, including $70 million in unreported exposure, according to El Confidential.

Images of the airports are posted on this page. Images of abandoned housing are posted on the following slides.

VALDELUZ: 700 people live in a town planned for 30,000

Source: Guardian

SESENA: 10,500 houses sit empty. Commercial real estate is bricked up

Source: NYT

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

YEBES: A few families live amid hundreds of vacant homes and empty lots

Source: NYT

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

Will the housing crash drag Spain... and Europe?

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