Spanish village Salto de Castro for sale at €260,000



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Spanish village Salto de Castro for sale at €260,000

The village of Salto de Castro, located in the northwest of Spain, is offered for sale at a price of 260,000 euros. The village is located on the border of Spain with Portugal in the province of Zamora and is three hour's drive from Madrid.

The village has many buildings that can normally be found in a small Spanish town, it has 44 homes, a hotel, a church, a school, a town pool, and even barracks that were used to house the civil guard. However, the village has no inhabitants because it was abandoned more than three decades ago.

The current owner bought it in the early 2000s with the intention of turning it into a tourist location, but the Eurozone crisis thwarted his plan. “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,” said Ronnie Rodriguez from the Royal Invest company, which represents the current owner. "I am selling because I am an urban-dweller and cannot maintain the upkeep" of the village.," said the owner, who is in his eighties.

The ad sparked a great interest

The ad attracted great interest and recorded more than 50,000 visits in just a few days, and about 300 people directly showed their desire to buy. Inquiries come from Russia, France, Belgium and Great Britain, and one of the interested parties has already given a down payment for the purchase.

The village of Salto de Castro was built by the Iberduro company, which is engaged in the production of electricity, and it was intended to house the families of workers who worked nearby on the reservoir in the early fifties of the last century.

However, after the end of the project, the families moved away, so the village was completely abandoned at the end of the eighties. Earlier, the village was also offered for sale, but at a price of 6.5 million euros, but no one came forward.

Over time, it was vandalized, so the requested amount is dramatically lower. Today it is sold for 260,000 euros. The future owner will need more money to improve the village and attract visitors, and it is estimated that an investment of around 2 million euros is needed to make it 100 percent functional and profitable.