€3,472 farmhouse: Spain auctions rural home with land but buyers face an unusual catch

A farmhouse with a wine cellar, courtyard and more than 1,000 square metres of land is being auctioned in northern Spain for a starting price of just €3,472. But there is an important catch for anyone tempted by the apparent bargain: the successful bidder will only acquire half of the property.

The Spanish Tax Agency (Agencia Tributaria) has put a 50 per cent ownership share of the rural property up for auction in Regueirolongo, a small settlement in the area of Cerdido, in A Coruña province, Galicia.

According to the auction documentation, the property includes an approximately 80-square-metre traditional farmhouse, arranged over two floors, together with a courtyard, wine cellar, threshing floor and agricultural land. The entire registered plot measures around 1,018 square metres.

A surprisingly low starting price

The property has an auction value of €34,720.11, with an official valuation of €43,400.14. However, the minimum bid has been set at just €3,472.01, reflecting the fact that only half of the ownership is being sold.

Anyone wishing to participate must provide a deposit of €1,736. Bids must increase in increments of €1,000. The auction is being managed by the Spanish Tax Agency and is available through the official BOE online property auction portal. Bidding opened on October 27 and is due to close on November 16 at 6pm.

Important restrictions for potential buyers

There are several issues prospective bidders should investigate before committing their money. The property cannot be visited, meaning its internal condition cannot be checked before bidding. The auction documentation also identifies it as the habitual residence of the registered owner, although this does not establish whether anyone currently occupies it.

Another important consideration is the right of first refusal (derecho de retracto) held by the other co-owners, which could affect the eventual purchase. The documentation also refers to a mortgage in favour of Deutsche Bank which is awaiting formal cancellation from the Property Registry, although it is recorded as having no outstanding financial content.

Anyone considering buying through a Spanish government auction should examine the conditions carefully. The Agencia Tributaria’s official guide to property auctions explains how to find available properties and access the BOE bidding system.

More cheap properties appearing at auction

This is not the first time ridiculously low-priced properties have attracted attention in Spain. Previous opportunities have included Hacienda auctions with homes starting at €12,000 and more than 1,000 properties advertised for under €15,000.

EWN has also examined the potential benefits and risks of buying a house at auction in Spain., which would be worth considering before anybody gets excited and puts in a bid.

The latest Galicia listing is another reminder that a low starting price does not necessarily mean a straightforward purchase. For potential buyers, understanding exactly what is being sold can be just as important as the price.