Properties in the neighborhood of San Cristobal de los Angeles , located in the district of Villaverde in the south of Madrid, is one of the budget in the capital. According to El Mundo, buy an apartment without repair in the house where you can not lift 20 thousand euros and even cheaper .
” We sold the 60-meter two-bedroom apartment for 16,000 euros ,” – said Edwin Samaniego working in this area for the franchise agency Tecnocasa. His firm is the only one in the area, which is responsible for real estate , and other realty office left the area by virtue of social situation .
At the beginning of this working-class district was created by Spanish immigrants , they came to Madrid to work from Andalusia and Extremadura , as well as people affected by urban operations 50s . Today in San Cristobal de los Angeles is the largest number of foreign immigrants . Just live here many Roma families .
” Real estate is a very poor quality, and it was built on unstable ground ,” – says Samaniego . City Hall is aware of this issue and restoration of buildings in this area is one of the main tasks . However , the social component is the decisive factor . “Low prices attract the attention of potential buyers as long as they do not come and did not walk around the area ,” – said Samaniego .
He also notes that the high demand evident from immigrants and investors on those apartments that can be purchased under the lease. For example, a property that is worth 16,000 euros can later pass for 300-350 euros. However, this area still has positive characteristics such as good transport links and infrastructure.
Samaniego assures to that property prices will no longer decline as ” owners can not lower the bar by virtue of the taxes they must pay .”