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A view of Calpe, in the Costa Blanca. Overbuilding on the Costa Blanca has resulted in a total of 200,000 properties being unoccupied (2008). Due to favourable interest rates and readily available mortgages, Spain experienced a construction boom in the years leading up to 2008. The financial crisis of 2008 caused the real estate bubble to burst leaving millions of homes and other buildings vacant. ..