Lighter Side: Diversifying on a budget? This village might be right for you

Investors who are looking to diversify their real estate portfolios might find what they’re searching for in an unlikely place: the town of O Penso in northwestern Spain.
 
The small 100-acre holiday village comes complete with three barns, six houses, a bakery, an orchard and a free water well – all for CAD $298,180. That’s less than the price of a condo in many of Canada’s largest cities.
 
Of course, the Spanish holiday village needs some work; the town has been abandoned since the last resident died almost a decade ago. But investing in the property will only add to its return, especially considering the town is just 10 kilometres from a stretch of sandy beaches and some of the continent’s best surfing.
 
However, interested investors need to act fast. Mark Adkinson, the British sales rep who is brokering the sale of the property, says he’s already been contacted by interested parties – namely an Indian national who wants to turn the village into a yoga retreat centre, and an American expat who wants to set up an English school.
 
“I've got lots of buyers who want to go back to nature,” Adkinson told NPR, “and let's face it, there's nothing more natural than this.”

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COMMENTS

  • by mortgageuno 2015-08-28 2:21:16 PM

    If the Agents mandate is to sell this village, then already have lots of people are lining up for the same, namely an Indian national looking to set up Yoga Retreat (of course, clients will have to be transported by air from India to the center and back, rather than depending upon local residents, as there are none) and that English speaking course for the nature lovers in that beautiful abandoned village of the decade, and may be many more. So, now, just concentrate on your local deals.

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