Soon to be ex-president of Spain, Zapatero, has finally flogged his Vera beach house after dropping the price by 38%.
He purchased the home in 2007 for a reputed 440,000€, in the name of his wife. The sale price of the home, according to real estate portal idealista.com, was 280,000€ – meaning ZP’s “investment” cost him 160,000€. It seems the ZP family never stayed there, according to some reports, because of the size of the mosquitoes from the nearby swamps.
Zapatero put up his home for sale at the same sale price over a year ago, at the same time he told US investors during a Washington trip that “house prices in Spain have touched bottom and the only way is up”. Well, quite.
The 3 bedroom, 360 m2 home has been flogged as ZP no longer needs it, and is building a luxury house for himself in his native city of León, which according to local media, is costing him over a million euros. Where did he get a million euros from?