Shockingly for the incredible sum of €260,000, or nearly Rs 2 crore. A Spanish village with almost more than 40 homes is up for sale.
Salto de Castro is about a three-hour drive from Madrid and is situated on the border between Spain and Portugal. Unfortunately, the village’s structures have been unattended for over three decades and are now in poor condition.
The community comprises 44 residences, a hotel, a church, and a school. In addition, according to the BBC, a public swimming pool, a sports complex, and an ancient Civil Guard barracks.
Early in the new millennium, a Galician man purchased Salto de Castro with plans to develop it as a tourist attraction. But unfortunately, he was forced to postpone his dreams due to the 2008 financial crisis.
“The owner had the dream of having a hotel here, but it was all put on hold,” as per Ronnie Rodríguez statement of Royal Invest, the company representing the owner. “He would still like the project to come true.”
The owner, who is in his 80’s, said: “I am selling because I am an urban-dweller and cannot maintain the upkeep” of the village. He made this statement on the Idealista website, where the town is listed for sale.
In order to reserve it, one prospective bidder had already paid money, according to BBC. The community is currently up for sale for €260,000 (£227,000), or roughly Rs 2 crore. A simple check reveals that this is less expensive than a number of apartments in New Delhi.
People who are interested in investing can contact Rodríguez here.
Whoever purchases Salto de Castro will have to contribute funds to the village’s upkeep.
“The expenditure required to make the community 100% viable and profitable would not surpass €2m,” claims Idealista.
About the Spanish Village
The owner purchased the village at the start of the 2000s with the intention of changing it into a tourist destination. But the 2008 financial crisis contributed to his failure. The owner of the village had the idea of having a hotel here, but the project was put on hold, according to Ronnie Rodriguez of Royal Invest.
Who is representing the owner of the town? However, the owner still wants the project to be completed. The owner posted information about the village on the Idealista website and stated that he is selling it since he lives in an urban area and cannot adequately maintain the town.
Up to 50,000 customers have expressed interest in purchasing the town. According to Rodriguez, individuals from Russia, Belgium, France, and the UK are interested in purchasing the village. Additionally, one of those individuals has already paid a small deposit to reserve it.
The village has been abandoned for more than 30 years despite having facilities. To accommodate the families of workers at the neighboring dam, an electricity-producing firm constructed the village in 1950. Three years later, in 1980, it was abandoned entirely. The community had previously been listed for more than £5 million, but as no interested parties expressed themselves, the price was reduced.
