The economic downturn began years ago and anyone who hasn't sold yet that needed to would be in dire straits by now. A foreign property in most peoples eyes is an investment that needs to pay its own way not to be sitting there languishing between owner visits racking up the bills..So i do beleive that the rental laws will be directly to blame for most people having to throw in the towel. Maybe i'm wrong but whatever the case its a sad situation all round and could have been avoided with some foresight.As i asked previously Sheila where were all these anti private rental charlies 10 years ago when vast sums of money were being made.
I totally agree that it's shameful (a) the way the banks lent ridiculous amounts to any and every body, and (b) the way they've suddenly started to enforce these laws that most people didn't know existed (and which estate agents and even lawyers kept dead quiet about).
But the fact of the matter is that many people here have been in dire straits ever since the start of the crisis (or that's my understanding - I've only been here for a couple of years). Many had borrowed all they could repay, even with rental income and both partners in work. Then the drop in tourism, as everyone around Europe felt the pinch, cut the rental income. A lot of owners couldn't afford to even come out for holidays, so they looked to long-term rentals to give them income, while many others simply had their homes repossessed. It wasn't the laws - they were only enforced a year or two ago.
I don't know how it is in your area, but here on Tamaragua houses are at last moving rapidly; in fact they're selling like hot cakes now, with buyers seemingly confident that now is the time. I suspect that's why there are so many for sale in your area: the owners can at last see a prospect of being able to sell, so they've turfed out their tenants. Unfortunately of course sellers won't be getting very much for their places, but they are finally getting them off their hands. We all know that the dream of a place, or a new life, abroad ended in nightmare for loads of people.
Some foresight in the future would be marvellous. However, from what I've seen so far that's rather unlikely to happen in Fuerteventura.