The European economic crisis of the late 2000s hit Spain hard. Due to a toxic combination of billions of euros worth of bad loans held by Spanish banks, and a real estate bubble that burst in spectacular style in 2007, Spain’s economy now faces multiple challenges.
One of the many fallouts of the crisis forms the basis of Markel’s latest body of work. Sand Castles documents a handful of the estimated 3.4 million houses that now stand empty and deserted throughout Spain. The developments were constructed by developers in a dizzying rush to make the most of cheap loans and favourable government regulation. They now litter the landscape.
Markel’s aerial footage shows the extent of the failed property boom.
The film won the DJI Drone Photography Award in 2018.
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