Spain auctions flats and houses for less than 10,000 euros
Check out the complete list of properties available across Spain at bargain basement prices
Finding a good-value, affordable home in Spain has become a near-impossible task and the journey is often arduous and disheartening, with endless requirements and a limited supply of affordable options. As a result, the age of emancipation in Spain has skyrocketed, with many young people not leaving the family nest until their 30s.
Rising prices and low wages for young people are major contributors to this trend, making it increasingly difficult for them to afford their own place.
The Spanish Government has proposed several measures to mitigate the high cost of rentals, including tax breaks for landlords who lower their prices and personal income tax benefits for renters. However, the common consensus among real estate experts is that these policies are simply not enough to make any kind of significant impact.
In a bid to provide more affordable housing options, the Social Security department has announced that it will be auctioning off more than 300 properties across Spain at very competitive prices.
The properties, which include apartments, houses and land, are the result of seizures by the General Treasury of Social Security from companies or individuals with outstanding debts. Many of these properties are available for less than €10,000.
You can find the full list of homes and land for sale here.
How to participate in the auction
Within the portal, you can see the exact location of the properties, filter the options by province and access more detailed information about each property.
Anyone with legal capacity can participate in the auction process, either individually or through a representative. To take part, you'll need to present a copy of your ID or passport and make a prior deposit as a guarantee for your bid. The deposit will be returned to unsuccessful bidders and the winner of the auction will need to complete the payment within five working days.
Fancy throwing your hat in the ring? Here are some of the best value properties on the extensive list:
- Apartment in La Robla, León (45m²): €5,000
- Flat on Calle Sierra Espuña, Alhama de Murcia (60m²): €10,000
- Apartment on Calle Marqués de Molins, Alicante (50m²): €12,000
- Flat in Puente Genil, Córdoba (40m²): €6,000.
It's essential to note that some of these properties may have mortgages or other liens, which the new owner will be responsible for settling. Additionally, the auction process can be competitive, so it's crucial to do your research and come prepared.
In other news: Spain's plan to introduce a new job seeker visa for foreigners to live and work after studying
Image: Freepik
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