Rotten To The Core: Spain's Housing Market In Crisis

Costa del Con: Spain's housing market is being crippled by a corruption scandal.

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It’s Spain’s biggest corruption scandal in years. Marbella’s local council stands accused of sanctioning illegal construction projects in exchange for large bribes.

By some estimates, 40% of all construction in Europe is happening in Spain. Marbella is at the centre of the building boom. In the past few years, 4 million houses have been built. “It’s a real disaster for the city”, states Mercedes Vazquez. More than 30,000 flats originally approved by the council violate Spain’s planning laws. Former officials are now facing corruption charges. Since the scandal broke, dozens of similar cases have been discovered across Spain. “The root of the problem is that town councils aren’t properly funded”, explains lawyer Diego Martin. “Many rely on developments to get the money they need”.

ABC Australia– Ref. 3412

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