Spanish Bank assessts

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This topic contains 12 replies, has 5 voices, and was last updated by Profile photo of Anonymous Anonymous 4 years, 3 months ago.

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  • #57034
    Profile photo of Anonymous
    Anonymous
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    one hears frequently about banks having property assests which they cannot sell, only today I read MARK being quoted as “The properties that banks fail to sell before the onset of winter will hang around on their balance sheets until at least the spring next year, when the holiday-home market gets going again. This stock is expensive to maintain, giving banks an incentive to drop prices now in order to make a sale”……

    Are other banks in Portugal, Italy, Greece doing same thing

    Does anyone know how to find out what these bank assets are? Is there a list, register, website?

  • #111937
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    Anonymous
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  • #111938
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    Anonymous
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  • #111939
    Profile photo of DBMarcos99
    DBMarcos99
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    Those “assets” may soon become property of what is called a Bad Bank

    http://www.bbc.co.uk/news/business-19437308

    The Bank of Spain will assess the value of the assets being transferred into the “banco malo” and the banks will receive cash, debt or shares in return, said economy minister Luis de Guindos.

    Of course the ‘Bad Bank’ will be expected to sell off those assets at a later date, and to make a profit! I believe this was the theory behind what happened with Northern Rock.

  • #111952
    Profile photo of Anonymous
    Anonymous
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    thats was interesting and useful
    But the man in the street does not have easy access of the repossession assets list still…..they are not helping themselves really!!
    🙁

  • #111953
    Profile photo of Anonymous
    Anonymous
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    @boothy wrote:

    here it is – nice views

    http://www.tripadvisor.co.uk/Hotel_Review-g673858-d1191707-Reviews-Apartamento_Punta_Paloma_Golf-Manilva_Costa_del_Sol_Andalucia.html

    they look nice enough for 70% discount……but who knew of this?

  • #111954
    Profile photo of Anonymous
    Anonymous
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    @dbmarcos99 wrote:

    Those “assets” may soon become property of what is called a Bad Bank

    http://www.bbc.co.uk/news/business-19437308

    The Bank of Spain will assess the value of the assets being transferred into the “banco malo” and the banks will receive cash, debt or shares in return, said economy minister Luis de Guindos.

    Of course the ‘Bad Bank’ will be expected to sell off those assets at a later date, and to make a profit! I believe this was the theory behind what happened with Northern Rock.

    Interesting news, but you.re right, this will not help the situation but just hide it

  • #111955
    Profile photo of katy
    katy
    Spectator

    It is not always the size of the discount that is important as some of these apartments were vastly overpriced at the start. I certainly don’t think they are much of a bargain seeing as it’s a Manilva location 🙄

  • #111956
    Profile photo of Anonymous
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    @katy wrote:

    It is not always the size of the discount that is important as some of these apartments were vastly overpriced at the start. I certainly don’t think they are much of a bargain seeing as it’s a Manilva location 🙄

    you’re right, pricing has a lot to do with current situation faced by banks. Greed got the better of them and now everyone has to pay
    Sounds like you are familiar with Manilva, etc do you live in Spain?

  • #111957
    Profile photo of katy
    katy
    Spectator

    Recent returner but I lived there 15 years 😀

  • #111958
    Profile photo of Anonymous
    Anonymous
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    @katy wrote:

    Recent returner but I lived there 15 years 😀

    wow….15 years…during the better times…..what brought you back…not the weather! 😀

  • #111970
    Profile photo of Chopera
    Chopera
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    @leo450 wrote:

    one hears frequently about banks having property assests which they cannot sell, only today I read MARK being quoted as “The properties that banks fail to sell before the onset of winter will hang around on their balance sheets until at least the spring next year, when the holiday-home market gets going again. This stock is expensive to maintain, giving banks an incentive to drop prices now in order to make a sale”……

    Are other banks in Portugal, Italy, Greece doing same thing

    Does anyone know how to find out what these bank assets are? Is there a list, register, website?

    idealista.com is the biggest portal in Spain and it allows you to filter for repossesions (“de bancos y cajas”)

    Otherwise just pick a Spanish bank, go to their web page and there will usually be a link to their property site.

  • #111986
    Profile photo of Anonymous
    Anonymous
    Participant

    @chopera wrote:

    @leo450 wrote:
    one hears frequently about banks having property assests which they cannot sell, only today I read MARK being quoted as “The properties that banks fail to sell before the onset of winter will hang around on their balance sheets until at least the spring next year, when the holiday-home market gets going again. This stock is expensive to maintain, giving banks an incentive to drop prices now in order to make a sale”……

    Are other banks in Portugal, Italy, Greece doing same thing

    Does anyone know how to find out what these bank assets are? Is there a list, register, website?

    idealista.com is the biggest portal in Spain and it allows you to filter for repossesions (“de bancos y cajas”)

    Otherwise just pick a Spanish bank, go to their web page and there will usually be a link to their property site.

    excellent, thanks
    Do you know names of any typical banks?
    cheers

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