El círculo vicioso del turismo residencial: análisis de los factores locales del boom inmobiliario español

Between 1996 and 2006, Spain experienced an unprecedented real estate boom that mainly affected the coastal localities. Research has mainly focused so far on analyzing the causes that fueled such a high demand for housing. This article aims at highlighting the role tourist destinations have played in the said housing boom from both a comparative and a local perspective. The paper analyzes the systemic interaction of factors such as the realtors’ high margins of profit, the decapitalization of traditional economic sectors, the corruption of the municipal officers, the tourist seasonality, the population undercount, the local governments funding mechanisms and the scarce weight of the activities most directly related to tourism.