When it comes to investing in real estate, why settle for just an apartment or a villa? You can now aim big and get yourself an entire Spanish village.
Yes, a village in Spain is up for sale for 260,000 euros or just INR 2 crores. Salto de Castro, a village at the border of Spain and Portugal, is being sold by its previous owner to anyone who is interested in turning this abandoned village into a happening European tourist destination.
Located three hours away from Madrid, the village has been uninhabited for more than 30 years and, predictably, has gone into a state of disrepair and is a bit of a fixer-upper.
If you somehow manage to rally the funds to makeover the village like you’re in a Hallmark movie, you would have 44 homes, a hotel, a church, a school, a municipal swimming pool, a sports arena, and an old army barrack to work with.
According to official records, the village was built in the 1950s to house workers who were building a nearby reservoir. It was abandoned after the work on the project was finished.
The village was bought by a Spanish real estate developer, in the early aughts, who wanted to build a hotel to attract tourists to the village. Unfortunately, because of the 2008 recession, his best-laid plans went downhill and he is now selling the village to any willing buyer.
According to its listing on the Spanish real estate website Idealista, the village would require an investment of about 2 million euros to make it 100 percent workable and profitable as a tourist destination.