The hundreds of thousands of empty homes across Madrid has spawned a black market for cheap housing in which groups illegally break into, and then let, repossessed properties.
Almost all the cases involving the properties, most of which now belong to Spanish banks, are identical, said Vicente Pérez, from a residents group, the Federación Regional de Asociaciones de Vecinos de Madrid.
While prices vary greatly, it generally costs from €1,000 (£830) to €2,000 to "buy" a repossessed property, El País reports. Those who cannot afford the fee can instead choose to rent for a few hundred euros a month. The price often includes electricity, gas and water, and sometimes even heating.
The homes are guaranteed until a judicial process issues an eviction order, said Pérez. That process that could take up to two years.
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