Roughly 70% of the properties that are illegally occupied belong to banks, according to the non-profit Obra Social Barcelona. Another ten percent belong to large ins utional landlords and 5% to small private landlords.
Spain’s center-left government last week unveiled a controversial draft law that has incensed right-wing media pundits and political parties. The proposed law seeks to halt the eviction of squatters from the properties they have occupied until May 9, when Spain’s State of Alarm is scheduled to end. Most of the properties that will be affected belong to banks or other large ins utional landlords.https://www.nakedcapitalism.com/2021...ged-spain.htmlAs a police officer from Barcelona who specializes in evicting okupas told me for a previous article I wrote on this issue, removing squatters from properties belonging to private equity funds is a particularly messy, drawn out process, largely because of the difficulty of identifying the actual owner of the property — Blackstone, for example, operates in Spain through dozens of different subsidiaries — and then tracking down a representative with whom to liaise. “This takes up a huge part of our day-to-day work,” he said.
Roughly 70% of the properties that are illegally occupied belong to banks, according to the non-profit Obra Social Barcelona. Another ten percent belong to large ins utional landlords and 5% to small private landlords.
According to Obra Social Barcelona, 78% of the squatters it surveyed were families. Fifty-eight percent have minor children. Many of them lost their mortgaged home in the last housing crash. At that time, all mortgages in Spain were “full recourse.” As such, even after the bank had repossessed a home, the borrower was often left on the hook for thousands, if not hundreds of thousands, of euros of debt. Other squatters were evicted from rental homes in more recent years. For all of these people, squatting is a desperate last resort.
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