Pioz is saddled with €186 billion of debt , making it Madrid 's most indebted town . Today , only 3,500 people live in housing estates designed for 25,000 . The country 's property boom went bust in Today , and now 20 % of Spanish homes lie empty . However , looks can be deceiving . The banking sector has €186 billion -worth of troubled real estate assets on its books .
Pioz is saddled with €186 billion of debt , making it Madrid 's most indebted town . Today , only 3,500 people live in housing estates designed for 25,000 . The country 's property boom went bust in Today , and now 20 % of Spanish homes lie empty . The banking sector has €186 billion -worth of troubled real estate assets on its books .