PROPERTY SEARCH
PROPERTY SEARCH
Entire abandoned Spanish village up for sale again... but for twice as much
The Salto de Castro ghost town in northern Spain is back on the market for 580,000 euros
The almost forgotten village of Salto de Castro in Zamora, north-western Spain, completely abandoned for three decades, made headlines last year when it was put up for sale in its entirety for the bargain price of just 300,000 euros.
It was snapped up by Toledo businessman Óscar Torres who promised to revitalise the ghost town but 12 months on, having completed an architectural project for the rehabilitation of the village, he’s put Salto de Castro back on the market – at almost double the price he bought it for.
For a mere 580,000 euros – the same price as countless houses in the UK – the lucky new owner will bag 44 homes, a bar, a church, a school, a hostel, a swimming pool, sports areas and an old Guardia Civil barracks. But would-be property moguls will need to be quick, as Royal Invest has confirmed that the village already has two admirers: a group from Saudi Arabia and another from Miami in the United States.
In fact, a bidding war has begun and the price has already been pushed up above 600,000.
Salto de Castro is just a stone’s throw from the Portuguese border and boasts breath-taking views of the Douro River and more than 135 days of sunshine per year.
Zamora is one of the areas in Spain that has been hit hardest by depopulation and the abandonment of Salto de Castro in the 1980s hit the region hard. The entire town was originally constructed during the 1940s to house workers who were building the nearby dam but by 1989, the 400 square metre village was empty.
According to property portal idealista, “The investment required in order to make the village 100% workable and to become profitable would not exceed 2 million euros.”
Image 1: Balles2601 via Wikimedia Commons
Image 2: Royal Invest
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