No Recession as Apartment in Spain on Sale at Over 7m Euros

News Date: jueves, 22 de octubre de 2009

No Recession as Apartment in Spain on Sale at Over 7m Euros
No Recession as Apartment in Spain on Sale at Over 7m Euros

There is a constant stream of stories reflecting the difficult economic times surrounding us, making it easy to forget that for some more fortunate individuals, the recession is nothing more than a minor annoyance or at most, a glitch; with some even looking at the situation as a blessing when it comes to real estate transactions.

To put this into context, the most expensive apartment in Spain has recently been placed on the market for a staggering 7,440,000 euros, with some interest already being shown in the luxurious apartment, as reported on

Clearly, this isn’t an every day sale, but in some sectors of the real estate market, properties such as this are still moving.

The apartment in question is said to be a duplex penthouse, split over two floors and covering in the region of 517 square metres. This was reported to be a “snip at 7,440,000 euros”.

Allowing a brief glimpse into ‘how the other side lives’ some details were released regarding the property. The duplex, which in a previous life had been two separate apartments, now contains 5 bedrooms and boasts 6 bathrooms. The lounge alone covers 100 square metres and the terrace on the lower level reaching 13 square metres with the terrace on the first floor being spread over 295 square metres housing a private pool.

Not surprisingly, the property enjoys a separate servants’ entrance and for the lowly price of 90,000 euros each, up to seven car parking spaces can be purchased with the property.

According to sources, over one thousand people have viewed the property on the promotional website, with some serious enquiries coming through, "There are very few people here in Spain who could buy it," explained the owner of the real estate company promoting the penthouse, "we think it will probably be sold to a foreigner."

To these ‘foreigners’ this may indeed be perceived to be a bargain in comparison to what was reported to be the world’s most expensive apartment, a property sold in Hong Kong last week for an incredible 56 million dollars.

In the meantime however, for those not yet in a position to purchase a property of their own just yet, The Sara Service has a fine selection of rental properties at far more reasonable prices.

Spanish Rental and Property News by News Desk

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