Spain’s housing market keeps rising and rising.
And so do frustrations, especially in big cities and coastal areas where prices are now completely detached from average Spanish wages.
In this overheated market, one risky alternative has long been known: buying properties occupied by squatters (known locally as okupas). Buyers gamble on getting the place back through negotiation or legal battles. And in return for their ‘risk game’, they usually get a serious discount.
But now even that is changing.
One in 40 homes for sale is already occupied
Back in March, a study by property portal Idealista, quoted by the Spanish outlet La Razon, revealed a surprising figure: over 20,000 listings in Spain openly admitted to being occupied by squatters in the last quarter of 2024.
That’s 2.6 per cent of all homes listed, so more than two out of every 100. Barcelona topped the list with 723 squatted homes for sale, followed by Madrid with 644.
Valencia listing goes viral: a €350K occupied flat (no viewings, no mortgage)
One of the most surreal cases is from Calle Ciscar 20, Valencia.
The ad from Idealista describes an enchanting and lovely three-bedroom flat with 118 square meters and a lift. The house is located in “one of the most exclusive and sought-after areas of Valencia, surrounded by all essential services, shops, prestigious restaurants, and cafés,” says the listing.
Sounds good? Not quite.
The property is “OCCUPIED, NOT VISITABLE, NOT MORTGAGEABLE,” says the listing in bold capital letters.
It gets better (or worse): “The current state of the home is unknown.” The price? ‘Only’ €350K. BUT… there’s at least one perk: “No agency fee.” Well, that’s something.
A charming building. From 1934
The “occupied and not visitable” part it’s not just a disclaimer.
In some cases, properties occupied by squatters have been found trashed, filthy, or completely stripped. Some have even been filled with literal tonnes of garbage. So not exactly a dream home, especially considering the legal mess to get the squatter out.
The ad tries to soften the blow with a few “highlights”: the flat is in a “charming 1934 building.” And is located just minutes from the famous Mercado de Colon and the green oasis of Jardín del Turia. Sounds more like a tourist brochure than a sale for a squatted property.
Credit: Idealista
Before signing off, the listing agent adds one last nugget of legal protection: “This ad is not binding, may contain errors, and is shown for informational purposes only.”
But, just so you know, the flat has TWO BATHROOMS, so you’re safe.
