PROPERTY SEARCH

Date Published: 11/11/2022

This is the Spanish village you can buy for the price of a house

ARCHIVED ARTICLE -

The quaint town in north-west Spain is up for grabs for just 260,000 euros

This is the Spanish village you can buy for the price of a house

Have you ever dreamed of relocating to a remote Spanish villa, far away from the hustle and bustle in the peaceful countryside? Well now might be your chance, as an entire rural town in up for grabs, and it will cost you less than a house in many of the more touristy areas of Spain.

Nestled in the serene foothills of the Zamora mountains on the north-west border with Portugal, the village of Salto de Castro, which comprises 44 houses, a hotel, a church, a school, a military barracks and swimming pool has been a ghost town for more than 30 years.

Originally constructed to house reservoir workers and their families in the early 1950s, the abandoned Salto de Castro was purchased in its entirety by an investor, now in his 80s, back in 2000.

He’s now selling the village for the bargain-basement price of 260,000 euros.

"The owner had the dream of having a hotel here but it was all put on hold," said Ronnie Rodríguez, of Royal Invest, the company representing the owner. "He would still like the project to come true."

Interest in the unique investment has erupted since the properties were put on the market last week and there have reportedly been more than 300 serious enquiries from buyers in the UK, Russia, France and Belgium.

Once up for sale for as much as much as €6.5m, Salto de Castro is now up for grabs for less than a one-bedroom apartment would cost in Madrid, which is just a three-hour drive away.

However, decades of vandalism and neglect have taken their toll on the properties, and quite aside from the asking price, any potential investor will need deep pockets to restore the village to its former glory.

According to Idealista: "The investment required in order to make the village 100% workable and to become profitable would not exceed €2m."

Now read: Spain demands that EU scrap 90 days in 180 rule for British tourists

Image 1: Wikimedia Commons

Image 2: Royal Invest

Sign up for the Spanish News Today Editors Roundup Weekly Bulletin and get an email with all the week’s news straight to your inbox

Special offer: Subscribe now for 25% off (36.95 euros for 48 Bulletins)