There’s a potential real estate steal up for grabs, and you wouldn’t believe the opportunity! A Spanish village went on the market last Winter for the price of a New York City studio flat.
Salto De Castro
The abandoned village, Salto de Castro, in North-Western Spain, goes for sale at 260,000 pounds which is about $259,000. Forget buying a country home, perhaps getting a fully equipped village is the next big thing!
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Abandoned For Three Decades
Despite being in a nice area, the village hasn’t had inhabitants in thirty years! Salto de Castro sits on the border of Portugal in the Zamora province and is a three-hour drive from Madrid. What’s not to love?
What’s In There?
Per news reports, the village is home to a hotel, church, swimming pool, almost 50 residential buildings, and barrack that catered to the city guard. The historical and nostalgic appeal made the present owner buy Salto de Castro in the early 2000s, but they couldn’t actualize the development plan.
The Failed Plan
As a wide space with enough ground to accommodate thousands of people, the owner planned to transform the village into a tourist spot. They’d have turned the residential buildings into hospitality spots, from hotels to bed & breakfasts and hostels.
Dealing With Eurozone Crisis
Unfortunately, the eurozone crisis occurred around the time of purchase, causing the plan to stall and eventually fall through.
Now in his 80s, Salto de Castro’s owner, Oscar Torres, still wants the village to become a tourist hotspot but can’t actualize that dream.
Regaining Popularity
He moved to the city in the 2000s and has lived there since, so he has no time to maintain the vast space. There’s hope for Salto de Castro as the village received several visitors following Ronnie Rodriguez’s listing on Idealista .
Offers From Across Europe
Beyond the visits, Rodriguez confirmed he received several offers for the village from people all over Europe. Most serious bidders came from Belgium, France, Russia, and the UK, with one person said to have put a down payment on the village.
Rich History
Salto de Castro has been standing since the 1950s as a community for workers who built the neighboring reservoir.
Too Rural For Habitation?
Many people don’t consider Salto de Castro a choice location due to its lack of inhabitants and poor proximity to civilization. The locals call the village’s Zamora province, Emptied Spain.
The Devaluation Of Salto De Castro
Torres first placed its value at over six million Euros but no one wanted the deserted land. Over time that value decreased until it reached its current 260,000 Euros. That price would get you a nice New York Flat or a decent one-bedroom apartment in middle-class Madrid or Barcelona residences.
Not A Steal
Whoever buys the village shouldn’t see it as a steal though because there’s a lot of work to do. Rodriguez included an estimated fee of two million Euros to renovate Salto de Castro and make it habitable.
The Rainbow In The Cloud
If the new owner succeeds in making Salto de Castro a tourist spot, the remote location could come in handy.
A Nice Retreat Location
It’ll be a great place for people to retreat and recharge after their busy work lives in the city.
See It For Yourself
Check out a tour of the village below.
