By Sarah Johnson
PUBLISHED: 09:23 EST, 14 September 2012 | UPDATED: 12:31 EST, 14 September 2012
It was supposed to be a bustling modern metropolis housing 30,000 people not far from the Spanish capital city.
But all that’s left now is a ghost town with barely 1000 residents.
Ciudad Valdeluz is a stark reminder of the effect of the global economic slump which led to the Spanish property crash.
Scroll down for a video tour of the town
Where have all the children gone? Ciudad Vadeluz led the property boom in Europe. The global economic slump has taken its toll, however, and now it comprises a landscape of deserted streets and empty spaces
Boulevard of broken dreams: Ciudad Valdeluz was supposed to house 30,000 people. Barely 1000 now live there
For those who find the silent buildings and empty spaces eerie, there is hope of a new, fast rail link to Madrid that will provide a link to a more populated place
Between 2001 and 2007, Spain was leading the property boom in Europe with prices increasing annually at an average of around 13 per cent.
Then the economic downturn hit in 2008 and much of the housing that was built to take advantage of rising demand now stands empty.
The Spanish government estimates that over 780,000 houses built since 2005 have not been sold.
Work halted on Ciudad Valdeluz in the summer of 2008 and as yet, no date has been set for it to resume leaving 75 per cent of the city unfinished.
Ghost town: Ciudad Valdeluz is the perfect place for those wanting to live a solitary existance
The Spanish government has estimated that over 780,000 houses built since 2005 have not been sold
The city has become a ghost town, characterised by its deserted streets and empty spaces.
Meanwhile, for the few people that live here, there are only basic services: a supermarket, a corner shop and a medical centre open two days a week.
Despite this, a security patrol still watches over the uninhabited houses and unopened shops keeping them safe. A restaurant and pharmacy are due to open soon.
Fenced off: The apartment blocks stand empty on barren land
Ciudad Valdeluz was supposed to offer people an excellent quality of life at a reasonable price
A work in progress? Building work in the city was halted in the summer of 2008 when the economy began to slow. As yet, there has been no news of when work will resume and 75 per cent of the city remains unfinished
For the few people that live in Ciudad Valdeluz, there are only a few basic services including a supermarket, a corner shop and a medical centre
The city is no bustling metropolis yet a 24 hour security patrol keeps the uninhabited and unopened shops safe
For those who enjoy a solitary existence defined by peace and quiet, this could be the perfect place to live.
For the inhabitants stuck here, however, there is hope in the form of a new, fast, rail link to Madrid where they can escape to the city.
No chance of overcrowding here: A huge amount of properties are still for sale
VIDEO: Eerie! Take a tour around the 'Spanish ghost town'...
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