Spanish hamlet for £142,000 - almost four times cheaper than an apartment in London

The village of Olgueira in Galicia, in northern Spain, has a market value of £142,000 (€160,000) - almost four times less than the cost of the average London apartment (£555,247, according to Rightmove).

Olgueira is a village of three houses in Galicia that borders the ancient pilgrimage route - and now popular hiking trails - of the Camino de Santiago. According to an ad on Idealista, the sale includes three houses, two 100-year-old barns, a fountain, a winery, a stable and an oven, all on a 25,000-square-meter plot.

Built over a hundred years ago, the houses together occupy 720 square meters (7,750 square feet) of space, with the largest at 300 square meters, another at 280 square meters and the smallest at 140 square meters. However, developing them will require an investment.

Due to its location near the border of the Camino de Santiago, as well as its proximity to the coastal town of Ribadeo and its famous Las Catedrales beach, the village is positioned as an investment opportunity. "If you are looking for an apartment and are open to alternatives, let us offer you an option," says Idealista's real estate blog.

The proposal is aimed at young people looking for a change of lifestyle, including foreigners.

The local press reports that in Trabad, where Olgeira is located, the population has decreased by 50 percent over the past 40 years. They estimate that there are about 20 uninhabited villages like Olgeira in the municipality, as well as 11 villages where only one person lives.

This is particularly true in northern Spain. According to La Vanguardia, the province of Lugo is the area with the lowest number of young people in Europe after Zamora, a city about 300 km south of Trabada.

To combat deforestation, the Spanish government is taking a number of initiatives to attract new residents to dying rural villages. Olgueira could be your sunny spot to build a country retreat or commune with your friends.