SPAIN is still home to the world’s largest number of homeowners, despite the crippling recession.
An incredible 83% of Spaniards still own their homes, despite the high unemployment rate and the five-year housing crisis.
Statistics show that a further, 27% of Spaniards also own a second or holiday home, reported the Bank of Spain.
This is despite around a quarter of those second homeowners still having mortgage debts due on their primary home.
Home prices have fallen around 40% since 2007, and have yet to bottom out.
Estimates suggest prices will fall a further 10% to 15%. About 584000 dwellings are vacant in Spain, waiting to be sold, the government estimates.
The data revealed about 90% of Spanish families owned some sort of property in 2011, and dwellings accounted for 84% of the household wealth.
Half of all households in Spain have some sort of debt to pay with the average value of debt being €42,900.
Young families are especially burdened: 81% of young families, those where the main bread winner is under 35, have property-related debts.