(Un)sustainable territories: causes of the speculative bubble in Spain (1996–2010) and its territorial, environmental, and sociopolitical consequences

In this paper we analyse the causes of the Spanish property model and its territorial, social, and political consequences. Particular attention is paid to sociopolitical contexts. These consequences include excessive dependence on economic activity and employment in the housing construction sector, the irreversible disappearance of landmarks in the country’s collective history and culture, and examples of ‘policy capture’, especially at local and regional levels. This lengthy process has led to corruption in town planning and an increase in poor policy decisions, greatly harming Spain’s reputation. <br><b>Keywords:</b> urban sprawl, speculative property bubble, unbalanced growth, recession, corruption, informal institutions, cultural and sociopolitical context