The Vice President of the European Central Bank (ECB), Luis de Guindos, asserted this Wednesday that housing policies, especially those affecting rentals, have created "bottlenecks" in the market that partly explain the rising prices in the sector. Guindos praised the fact that the Spanish economy is growing, largely thanks to the arrival of foreign immigration, but contrasted this with the fact that "the housing supply is very limited."

The luxury Blau de Mar building in Playa de Aro, a spectacular six-story building with a communal pool on the seafront, overlooking the sea, could be a metaphor for the difficulties and helplessness that come with buying a new property with serious construction defects. More than a year ago, this building suffered a serious collapse of the concrete cornices on the balconies, which from an upper floor swept away the remaining overhangs like a house of cards. "A very serious accident that could have caused a disaster. We still don't know why it happened or when it will be fixed!" says the only neighbor who was sunbathing in the communal area last Sunday, prudently staying away from the balconies. The overhangs of the façade that suffered the collapse were completely demolished to prevent further fragments from breaking off, and the other façade has been replaced with cumbersome metal supports that detract from the aesthetics of the apartments that were advertised as "exclusive homes" and "a safe bet for." Prices for these apartments exceeded half a million euros, with some reaching as high as 800,000. According to the real estate experts consulted, price is no guarantee of quality in a new apartment.