article_detail

The abandoned Spanish village of Salto de Castro in Zamora hit the headlines in Spain and across the globe last week when the entire area, which includes houses, a swimming pool, a Guardia Civil military barracks, a hotel and a school, was put on the market for the bargain-basement price of 260,000 euros.

 

Unsurprisingly, the village garnered interest from several foreign investors, some of whom offered as much as 600,000 euros to secure this unique little corner of Spain.

 

“We have received offers from Saudi Arabia, Russia, Brazil, the United Kingdom... investors from more than twenty countries around the world have contacted us,” Romuald Rodríguez from Royal Invest explained.

 

However, just days after being initially advertised, the lot was sold to businessman Oscar Torres from the city of Toledo for just 300,000 euros, 15% above the asking price.

 

Mr Torres, who has more than 20 years’ experience in construction, is CEO of Iniciativas Faos and has the backing of a Chilean investment fund for the rural tourism project planned for Salto de Castro.

 

“Since 2015 our work has not stopped growing in the residential and office real estate sector as well as in the hotel and self-promotion sector. We hope to continue to do so in the same proportion, both in terms of work and in the trust placed in us by our clients,” a statement on Iniciativas Faos website explains.

 

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 rejuvenation of the village as an idyllic rural getaway will no doubt work wonders for the local economy in the future.

 

 

Image: Archive