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Buy 140, 000 sq ft farm house in Spain at price point of Delhi-NCR flat

New Delhi: If you are looking to buy a flat in one of the sprawling buildings in Delhi-NCR, you would probably find it really hard to get one below Rs 30-40 lakh.But don't lose your
India TV Business Desk September 02, 2015 13:18 IST
India TV Business Desk

New Delhi: If you are looking to buy a flat in one of the sprawling buildings in Delhi-NCR, you would probably find it really hard to get one below Rs 30-40 lakh.

But don't lose your heart.

A better opportunity awaits for all those looking to invest in the real estate and willing to risk their venture outside the country.

As many as 2900 farm houses, located in the country side, with beautiful scenery are up for sale in land of the setting sun - Spain. The starting price is unbelievably low at just Rs 40 lakh. An average farmhouses in the locality has a three-bedroom house, 3 barns, a cattle shed and 140,000 sq ft of farmland. Some of the properties even have a freshwater spring.

The natives of these villages, hit by recession, are leaving their family homes in the countryside for better opportunities of employment. Some of the properties have just been abandoned by the tenants.

The Europeans, especially Brits, who are facing high prices of properties in their own country, are flocking to Spain villages, seeing them as viable investment options. Many of them choose to buy the property for the purpose of building retirement homes on those scenic locations.

The houses, however, are in need of instant repairs as the abandoned properties have not been properly maintained. Real estate agents aim to sell the properties to anyone who promises to restore and add back value to these scenic villages.

Feature of some of the houses have been turned around completely into holiday homes with wifi and satellite TV.

Aldeasabandonadas.com, a website run by Barcelona-born Rafael and his business partner Pepe Rodil, offers many picturesque properties with a starting price of Rs 38 lakh.