What is certain is that Zapatero put his townhouse up for sale after an unsuccesful attempt to rent it out. And, like other similar properties in the same urbanization, its real market value has dropped drastically, although according to industry experts in the area, the price of 400,000 euros is still appropriate for this property .
The home was purchased in the name of the president's wife, Sonsoles Espinosa, and the First Family is believed to have only used it once, for a short holiday. The home has been up for rent for the last two years but according to sources no tenant has ever been found.
The decision to offer for sale this terraced house, of about 100 square meters, may be due to many reasons, and since Zapatero and Espinosa acquired the property in the first half of 2007, the home has been the source of many rumours and stories.
The acquisition was made, according to reports at the time, at a cost of €440,000 and through a mortgage with Banco Santander. Located in a residential area near the town's popular naturist beach, it has since been discoverd that the urbanisation was built in a flood zone, and neighbours have complained of the bad traffic jams in the summer, and constant mosquitoes from nearby swamps. At the time of purchase there was talk of alleged complaints about the builders for alleged unjust treatment, with rival builders complaining the promotor had had their building permits fasttracked by the City of Vera. The President is not implicated in any way with these allegations, nor is he believed to have any connections to the builders.
Regarding the latter, in 2009, a former senior official of the company released files to the local media, reporting the alleged payment of "commissions" to municipal officials for the reclassification of rural land. The case is still being investigated by the Authorities. Indeed, the land where the alledged reclassification was carried out is part of the chalet of Zapatero, who did not buy from the developer firsthand, but secondhand off a foreign citizen.
Around the president's villa there are several similar units on sale for around 350,000 euros, which would mean a loss of about 20% on the sale price. However, the President has put his unit on the market for approximatly the same price which he purchased it at. The agent handling the sale has not been disclosed.
