Amazing Satellite Images Of Spanish Ghost Towns — Abandoned Since The Crash

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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.”

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[slide
permalink=”valdeluz-700-people-live-in-a-town-planned-for-30000-1″
title=”VALDELUZ: 700 people live in a town planned for 30,000″
content=”Source: Guardian
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[slide
permalink=”sesena-10500-houses-sit-empty-commercial-real-estate-is-bricked-up-2″
title=”SESENA: 10,500 houses sit empty. Commercial real estate is bricked up”
content=”Source: NYT
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[slide
permalink=”horche-this-village-near-valdeluz-has-1175-inhabitants-it-was-planned-for-triple-that-population-3″
title=”HORCHE: This village near Valdeluz has 1,175 inhabitants. It was planned for triple that population”
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[slide
permalink=”chiloeches-only-1684-inhabitants-live-amid-unfinished-construction-and-vacant-homes-4″
title=”CHILOECHES: Only 1,684 inhabitants live amid unfinished construction and vacant homes”
content=””
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caption=””
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[slide
permalink=”quer-only-449-inhabitants-in-a-town-planned-for-thousands-5″
title=”QUER: Only 449 inhabitants in a town planned for thousands”
content=””
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[slide
permalink=”alovera-there-are-only-5636-residents-here-amid-open-space-and-unfinished-construction-6″
title=”ALOVERA: There are only 5,636 residents here, amid open space and unfinished construction”
content=””
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[slide
permalink=”yuncos-this-town-near-toledo-has-about-6000-residents-unfinished-developments-could-triple-the-population-7″
title=”YUNCOS: This town near Toledo has about 6,000 residents. Unfinished developments could triple the population”
content=””
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[slide
permalink=”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-8″
title=”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”
content=”

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[slide
permalink=”yebes-a-few-families-live-amid-hundreds-of-vacant-homes-and-empty-lots-9″
title=”YEBES: A few families live amid hundreds of vacant homes and empty lots”
content=”Source: NYT
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caption=””
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[slide
permalink=”soto-del-henares-more-than-13500-homes-have-been-built-but-only-about-3000-people-live-here-10″
title=”SOTO DEL HENARES: More than 13,500 homes have been built, but only about 3,000 people live here”
content=””
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[slide
permalink=”calle-ojos-del-salado-a-new-housing-development-on-the-outskirts-of-granada-sits-completely-empty-11″
title=”CALLE OJOS DEL SALADO: A new housing development on the outskirts of Granada sits completely empty”
content=”Source: Ben Roberts
image=”http://static.businessinsider.com/image/4dbaba9c4bd7c8374c350000″
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[slide
permalink=”salou-a-tourist-town-thousands-of-the-apartments-and-vacation-homes-remain-empty-even-during-peak-summer-months-12″
title=”SALOU: A tourist town, thousands of the apartments and vacation homes remain empty, even during peak summer months”
content=”Source: Ben Roberts
image=”http://static.businessinsider.com/image/4db81330ccd1d57559000000″
caption=””
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[slide
permalink=”will-the-housing-crash-drag-spain-and-europe-13″
title=”Will the housing crash drag Spain… and Europe?”
content=”Spain Is Hoping The Presentation Will Regain The Confidence Of The World >
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