Cheap Spanish Apartments Released by Government

The Spanish government have released 1,000 apartments for sale across the country to entice overseas property investors to buy them and make them available to rent.

Sareb, the government-owned entity responsible for managing assets transferred by four nationalised Spanish financial institutions, has selected Spanish apartments spanning across 160 municipalities and 23 provinces in Spain that can be bought to be rented out.

The campaign is designed to boost interest from individuals or companies that wish to invest in the Spanish residential property market and make properties available to rent.

Successful buyers of the Spanish apartments that start from just over €32,000 must meet one condition – that every apartment purchased under the plan is subsequently leased.

A spokesman for Sareb stated that apartments can be purchased in desirable locations such as Barcelona, Madrid and Valencia, where other regions have also been targeted due to having a high demand for rentals.

Of the 1,000 Spanish apartments up for grabs, 301 are situated in Valencia, 225 are in Barcelona and 159 in Madrid. In addition, 18 homes have already been put on the market in Seville, 17 in Cantabria, 26 in Castellón and 10 in Salamanca.

The cheapest of the Spanish apartments that have been put up for sale is a modern apartment in Sagunto, which offers 60 square metres of space and can be purchased for the inviting price of €32,600.

There are also 89 state-of-the art apartments in Badajoz, each boasting 145 square metres, and which are individually priced at just €84,000.

With around 1,000 Spanish apartments to choose from, there should be one to match everyone’s requirements, but you may have to be quick to benefit from this fire sale.

British overseas property investors interested in the apartments available from Sareb should visit www.sareb.es. for further details of how to apply.