Banco Sabadell/Cam slashes property portfolios

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This topic contains 5 replies, has 5 voices, and was last updated by Profile photo of Anonymous Anonymous 4 years, 1 month ago.

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  • #57107
    Profile photo of logan
    logan
    Participant

    Banco Sabadell/Cam who arose from the ashes of the old caja Cam have finally reduced their property stocks by a further 25% for cash buyers. They now have a real estate arm called Solvia.
    http://www.solvia.es/resultadosOportunidades.asp?idProvincia=3&_desde_precioMaximo=0&_hasta_precioMaximo=600000&_desde_precioAlquiler=0&_hasta_precioAlquiler=700&_desde_dormitorios=0&_hasta_dormitorios=7&_desde_m2=0&_hasta_m2=350&filtroTipoObraNueva=N&filtroTipoSegundaMano=N&mapa=N&web=O
    This is a step in the right direction but even reducing their massive repossession stock by 25% across Spain still looks overpriced to me given current market conditions.

  • #112846
    Profile photo of GJ
    GJ
    Participant

    Had to wade through a very poor website but found this

    http://www.solvia.es/Apartamento-en-Mijas-2-dormitorios/6943_80/vivienda_8168.html

    One of the nicest developments in the Fuengirola/Mijas area.
    Larger than average of high quality and indoor pool gym and bar/restaurant on site.

  • #112850
    Profile photo of Chopera
    Chopera
    Participant

    In my target area I’m still seeing the same old properties on at the same prices from a couple of years ago. Even if you take off 25% for paying cash that’s only really following the market down. If they were too expensive 2 years ago then with 25% off they are too expensive now.

  • #112858
    Profile photo of Anonymous
    Anonymous
    Participant

    i was having a browse yesterday and saw a 3bed appartment in jeava for 60,000 euro’s which i thought didn’t seem to unreasonable

  • #112859
    Profile photo of Chopera
    Chopera
    Participant

    @dartboy wrote:

    i was having a browse yesterday and saw a 3bed appartment in jeava for 60,000 euro’s which i thought didn’t seem to unreasonable

    Seen a few of those in the centre of town. If it was in an urbanisation with pool, etc then I’d be very interested. At first glance these look quite cheap as well:

    http://www.solvia.es/Apartamento-en-Javea-2-dormitorios/11674_14/vivienda-en-alquiler_13279.html

    But I took a look last time I was over and saw large cracks in walls and above windows, tide marks in the underground car park from where the river had flooded, and they were next to a noisy road.

    When I see 3 bed flats in really good developments hanging around the market for over a year with an asking price of €150k then it also leads me to believe that I will eventually be able to pick one up for under €100k. I might be wrong but I see no harm in waiting.

    Santander had a small 2 bed town house for sale for €74k a few months ago – on an urbanisation with a large pool, and walking distance to the beach. I was tempted but it went before I got a chance to view it. I also saw an independent villa with pool (a reformar) go for around €130k last month (can’t remember which bank though) but it wasn’t an area I liked.

    I also had a chat with someone trying to sell a Tosalet villa that’s been on the market for €295k for over a year. He said he’d had an offer of €230k but was holding out. There’s a slightly larger Tosalet villa on that Solvia website and they’re asking a “reduced” price of €375k!

  • #112860
    Profile photo of Anonymous
    Anonymous
    Participant

    Not quite 25% in general, only if one pays at least 50% cash. For less than 20% cash it is only 15%.

    “El descuento será de un 25% si el adquirente se subroga en el préstamo hipotecario promotor o solicita
    financiación por parte del Grupo Banco Sabadell por un porcentaje inferior o igual al 50% del precio de
    compraventa.
    • El descuento será de un 20% si el adquirente se subroga en el préstamo hipotecario promotor o solicita
    financiación por parte del Grupo Banco Sabadell por un porcentaje superior al 50% e inferior o igual al 80%
    del precio de compraventa.
    • El descuento será de un 15% si el adquirente se subroga en el préstamo hipotecario promotor o solicita
    financiación por parte del Grupo Banco Sabadell por un porcentaje superior al 80%.”

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