The owners of empty homes in Madrid, Barcelona and Valencia lose 334 million euros a month

In these provinces there are 760.436 empty homes which could be rented out to students

Empty homes are a source of steady income which could be used by many owners who currently are not willing to rent their homes to students. More than 334 million euros a month could get in their accounts if they decided to make some money out of their empty houses in Madrid, Barcelona and Valencia, according UniPlaces, a room rental portal for students, which extracted the data using the average price for room rental.

In these provinces there are 760,436 empty properties. Specifically, in Madrid, there are 263,279 homes - a stock of 10% - which could be profitable if their owners advertised them in the student market. Overall, the owners of apartments in Madrid are losing 121 million euros since they are keeping shut which could be a source of income.

In Barcelona the number of empty flats exceeds the Spanish capital, reaching 283,155 properties. If these homes were out in the student rental market, owners could collect benefits worth 143 million euros per month. As in Madrid, in Barcelona 11 % of apartments are empty, an amount that even though declined in the last ten years (it has fallen 12 %) is still a pretty high number.

Source: El País

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