La Palma: Banks make their homes available “free of charge”

The Bank of Spain Madrid HQ. Credit: Bank of Spain

Spanish banks have agreed to make homes in their possession on La Palma and nearby available as housing for people displaced by the volcanic eruption.

The homes will be made available “free of charge and for as long as necessary”, according to the Spanish Banking Association and the National Union of Credit Cooperatives.

The Cumbre Vieja volcanic eruption on La Palma has so far destroyed 374 houses and affected 16,100 people, many of whom are now homeless.

The latest data shows that lava spewing from the volcano has also destroyed 166.2 hectares including prime farm land.

The damage to property and land is estimated to be in excess of €87 million, but the figure is likely to rise.

The Government of the Canary Islands is urgently seeking to rehouse residents.

The Vice President and Minister for Finance, Budgets and European Affairs of the Government of the Canary Islands, Roman Rodriguez, said on September 22 that the regional executive will buy at least 73 empty homes on La Palma.

The government will also provide prefabricated houses to help residents who are now homeless.

The government is interested in two private developments that are currently empty, one of them in the urban area of ​​Tazacorte, with 44 homes, and another in Montana de Tenisca, in Los Llanos de Aridane, with another 29.


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Written by

Deirdre Tynan

Deirdre Tynan is an award-winning journalist who enjoys bringing the best in news reporting to Spain’s largest English-language newspaper, Euro Weekly News. She has previously worked at The Mirror, Ireland on Sunday and for news agencies, media outlets and international organisations in America, Europe and Asia. A huge fan of British politics and newspapers, Deirdre is equally fascinated by the political scene in Madrid and Sevilla. She moved to Spain in 2018 and is based in Jaen.

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