Abandoned Spanish village back on the market at double the price

by Lorraine Williamson
abandoned village

PROVINCIA DE ZAMORA – Last year we wrote about the abandoned village of Salto de Castro in the province of Zamora that was for sale and eventually sold for €300,000. It’s back on the market, but now costs almost twice as much. 

There already appears to be interest from investors from Saudi Arabia and the United States. Negotiations to purchase the village have already started, according to real estate platform Idealista. 

Also read: Entire village in Spain for sale for 260,000 euros 

Original buyer 

The previous buyer, entrepreneur Óscar Torres from Toledo, had plans for a national tourism project. Although he started with the necessary preparations, he has now decided to sell his “buyer position”. According to Idealista sources, he would not be able to continue with his plans for strategic reasons. 

Interest from abroad 

“We have already received bids from Saudi Arabia and the United States,” Rodríguez said. Previously there were even offers of up to €600,000. This shows that the new asking price is “more than fair”. 

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What does Salto de Castro offer? 

The abandoned village is located on a reservoir and close to the Portuguese border. There are 44 houses, including 5 detached properties. In addition, there is a bar, a school, a guest house with plans for 14 rooms complete with a dining room and laundry and a church. A new owner can also include a former Guardia Civil barracks, a swimming pool and sports facilities. 

Additional incentives 

According to the current owners, the buyer may be eligible for subsidies from the Spanish government and the regional Junta of Castile and León. In addition, according to them, an investment of less than €2 million would be sufficient to make the village 100% operational. 

Past and future 

The family that originally owned it bought it from energy company Iberdrola in the early 2000s. Their plans to turn it into a tourist centre were thwarted by the 2008 crisis. Now they want to hand the baton to new entrepreneurs. 

Possibilities 

With the reservoir just a stone’s throw away, there is even the possibility to moor a tourist boat. The new owner can also obtain a permit for 184 places for rural tourism (in casas rurales, hostels, guesthouses or hotels). 

Also read: Buying an abandoned village in Spain is a new trend among foreign investors 

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