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

In Olgeira, Galicia, there is a three-home village consisting of two 100-year-old barns, a fountain, a distillery, a stable and a 25,000-square-meter plot.

Olgeira, GaliciaIdealista

A "rustic" village in northern Spain is for sale for £142,000 (€160,000) - almost four times less than the cost of the average apartment in London (£555,247, according to Rightmove).

Olgueira is a three-home village 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 homes, two 100-year-old barns, a fountain, a distillery, a stable and a stone kiln, all on a 25,000-square-foot lot. The houses, built more than a century ago, total 720 square meters (7,750 square feet) of space, the largest being 300 square meters, another 280 square meters, and the smallest 140 square meters.

The largest of the three Idealista homes

They will, however, require an investment to live in. Due to its location near the Camino de Santiago and only 25 kilometers from the coastal town of Ribadeo with its famous Las Catedrales beach, the village is positioned as an investment opportunity. "If you are looking for an apartment and are open to new possibilities, let us offer an alternative," reads Idealista's blog post about the property.

The offer also includes a distillery and a barnIdealista "A village has just come up for sale in Galicia for less than the cost of an apartment in Madrid or Barcelona." The proposal is addressed to young people looking for a change in their lives, including foreigners. Rural Spanish villages like Olgeira are increasingly becoming uninhabited as their inhabitants leave en masse for the cities in search of new opportunities.

The local press reports that in Trabada, where Olgeira is located, the population has dropped by 50 percent in the last 40 years.