Why Homeowners Are Too Scared to Sell: The Squatter Crisis in Spain
BY PROPCREW | JUNE 6, 2024
Key Takeaways:
Homeowners in Spain avoid putting 'for sale' signs due to squatter fears.
Legal loopholes allow squatters to stay after 48 hours.
Online listings are safer for property investment in affected areas.
Squatter issues are causing problems globally, including in Australia and New York City.
Introduction:
In parts of Spain, selling or renting a home has become a real challenge. Homeowners are too scared to put up 'for sale' signs because of the fear of squatters moving in. Let’s dive into why this is happening and how it affects property investment.
Why Homeowners Are Scared:
Squatting has become a major problem in cities like Murcia, in southeastern Spain. Squatters, often part of organized groups, target empty houses. They change the locks, sell belongings, and the legal system makes it tough for homeowners to evict them.
Legal Loophole:
In Spain, if squatters stay in a home for more than 48 hours, they can’t be removed without a court order. This process can take up to 18 months. This legal quirk is a nightmare for homeowners, making them avoid putting 'for sale' or 'for rent' signs on their properties.
Impact on British Expats:
British expats in Spain are particularly affected by this issue. They fall victim to squatter cartels like Los Okupas. These gangs not only occupy the homes but also sell the owners’ belongings, causing significant distress and financial loss.
Global Squatter Issues:
The problem of squatters is not just in Spain. As housing markets become more expensive worldwide, squatting has become a thorny issue. For instance, in Australia, it has never been harder to buy a home or find a rental. The national vacancy rate is extremely low, making properties more attractive to squatters.
The Situation in New York City:
In New York City, lawmakers are working on a bill to map and track squatters. This public record will include details of legal actions taken against squatters. Councilwoman Susan Zhuang is a major advocate of this bill. She shared a story of a union worker in her district who had to continue paying a mortgage for a home he couldn’t live in because of a squatter.
Modern Property Listings:
In light of these issues, many sellers in Spain prefer to list their properties online. This strategy helps keep their homes less visible to potential squatters. For those considering property investment, online listings are a safer bet.
Squatting is a serious issue affecting homeowners and property investors worldwide. Understanding the legal challenges and adapting strategies like online listings can help mitigate some risks. If you’re looking into property investment, especially in affected areas, staying informed is crucial.
Call to Action:
Are you considering property investment? Stay informed and explore online listings to ensure a safer investment. If you have any questions or need advice, leave a comment below!
Practical Tips:
Avoid putting up 'for sale' or 'for rent' signs in high-risk areas.
Use online platforms to list your property.
Stay informed about local laws and regulations regarding squatting.