Massive sale of Spanish State property announced

Spanish state property sale plan and auction
Breakdown of State properties to be sold

The Spanish Government hopes to sell 15,135 properties, including thousands of homes, as part of its drive to cut costs and slim down the State. Holiday-home hunters shouldn’t get too excited though.

The Spanish Treasury has announced plans to sell 15,135 properties over the next 3 years, including 6,900 homes that belong to the Ministry of Defence, and 5,107 properties belonging to the sovereign asset fund.

Part of the Government’s plan to reform the public administration, the sale will be staggered over the next 3 years, starting this year and ending in 2015, if all goes according to plan.

Staff and service personnel in the armed forces will be offered the homes belonging to the Ministry of Defence before they are put on the open market.

Also earmarked for sale are 1,869 homes belonging to other government departments, 4,832 rural properties, 126 offices, 382 plots, 61 apartment blocks, 805 commercial premises, 19 industrial sites, 16 garages, and 98 “unique buildings”, which could include palaces and the like.

This sale might be interesting for professional investors, depending on the prices. But it is unlikely to be of much interest to holiday-home hunters, who probably aren’t dreaming of squaddie housing. Of course there might also be the grace and favour homes of Admirals and Generals, though I doubt it, and anyway, the best stuff usually get snaffled up by insiders. Nevertheless, stay tuned to find out if there are any gems to be had.

One thought on “Massive sale of Spanish State property announced

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