Ever fancied owning an entire luxury golf course? Well, Macenas golf has been seized by the state and will be auctioned off next 19th of March, with a starting price of just €153.000.
However, the purchaser will also have to face an unpaid debt with the social security office of €2,3 million, and will have to stump up the cash at some point.
1,400 homes were going to be built, along with a luxury hotel (half built illegally and abandoned), around a 270,000 square metre luxury golf course. 10 years after works started, just 300 homes have been built, 90 of which were sold and the rest have been seized by the banks. You can currently get a luxury home in the place from just €140,000 say Banco Popular.
Macenas Golf went “pop” back in 2010 owing more than six million euros to the banks. The community at Macenas say that the golf course loses about €500,000 a year and is facing closure as the water company is threatening to cut supplies if they aren’t paid (which is what happened to Cortijo Grande Golf).