Investors flock to Spain as 1,000 apartments are put on the market from €32,000

SPAIN has enticed international property investors after 1,000 apartments across the country have made their way onto the market for a mere starting price of €32,000.

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

In a campaign to boost the sale of homes for individuals or companies who are interested in investing in the residential rental market, successful buyers must meet one condition – that every apartment purchased under the plan is subsequently leased. 

Launching the welcome initiative, 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 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 property that has been put up for sale is a modern apartment in Sagunto, which offers 60 square meters 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 meters and which are individually priced at €84,000.

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1,000 apartments have been put on the market to boost the rental sector. Credit: Sareb.

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Isha Sesay