Fancy owning your own property abroad? How about an entire village?
The village of Salto de Castro in Spain is on sale for €260,000, a whole €35,000 less than the average house price in Ireland
The village is located in north-eastern Spain, on the border with Portugal and a three-hour drive from Madrid. It includes 44 homes, a hotel a church, a school, and even a municipal swimming pool.
Salto de Castro was originally built by an electricity company in the 1950s to house workers who were constructing a reservoir nearby. Once the project was finished, the inhabitants left, and the village has been abandoned since the 1980s. It was purchased in the 2000s by a developer who hoped to turn the village into a tourist resort, but the plan never came to fruition.
"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."
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Over 300 parties have already expressed an interest in purchasing Salto de Castro, with buyers from Russia, France, the U.K. and Belgium considering the purchase. The village was originally put on the market for €6.5 million, but with no interested buyers, the price has now plummeted.
Whoever purchases the property has much to consider before taking on the project. Salto de Castro is located in a very rural part of Spain, deficient in local services and infrastructure.
Unfortunately, many of the buildings have now been vandalised, and an investment of up to €2 million would be needed to make the village a profitable tourist resort.
