Pioz is saddled with €16 million of debt , making it Spain 's most indebted town . Comment: The country 's property boom went bust in 2007 , and now 20 % of Spanish homes lie empty . The banking sector has €186 billion-worth of troubled real estate assets on its books .
Pioz is saddled with €16 million of debt , making it Spain '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 2007 , and now 20 % of Spanish homes lie empty . The banking sector has €186 billion-worth of troubled real estate assets on its books .