Spanish Homes Under the Hammer: Foreclosures Up 7.4%

About 100 Spanish families lose their homes every day.

According to the National Statistics Institute of Spain, the number of foreclosures carried out on Spanish citizens' main place of residence rose by 7.4 percent over the previous year and hit 34,680.

The overall number of foreclosures, including such kinds of properties like rest homes, offices and farms, increased by 9.3 percent to 119,442 in 2014.

Home foreclosures have become a common occurrence in Spain amid a difficult economic situation in the country. Street protests held to prevent citizens being evicted have become a common event.

On the threshold of the Andalucia regional election on March 22 and a general election closer to winter this year, foreclosures remain front and center in the political debate. Spain’s ruling conservative party has made assurances that the economic crisis is at an end and the country’s economy will soon show signs of recovery.

In 2014, Spain’s economy grew by 1.4 percent, after a five year economic depression. The first full year of economic growth has been recorded since a 2008 property bubble burst, throwing millions of people out of work and forcing the country to seek an EU bailout.