Bad bank to sell portfolio of luxury properties and country estates

Sareb repossession in Palma de Mallorca

Sareb repossession in Palma de Mallorca

The Sareb – Spain’s so-called Bad Bank – is preparing to sell a portfolio of luxury villas in a selection of upmarket destinations, plus country estates dotted around the land.

Known as Project Paramount, the luxury portfolio includes 35 homes in Madrid, Barcelona, the Costa del Sol, the Costa Blanca, and the Balearics, with combined value of €38m.

“Our Exclusive Homes – Project Paramount – catalogue will be coming soon and will include a select choice of exclusive homes located in prime tourist areas and urban city centres,” goes the blurb in the Sareb catalog.

Prices range from just under half a million Euros, to over three million Euros. The most expensive being a house in Aiguamurcia, Tarragona province (Costa Dorada, Catalonia), priced at €3.15m, with fifteen bedrooms, that was originally going to be a luxury hotel.

Sareb rural repossession in Castellón

Sareb rural repossession in Castellón

The rural properties are part of a portfolio called Project Harvest, which the Sareb describe in these terms: “A wide range of properties across Spain has been selected, including: hunting estates, cattle ranches, farms and olive plantations.”

Sareb web pages for Project Harvest and Project Paramount

The Sareb website has a page in English and Spanish for each of these portfolios, with a pdf in English you can download:

+ Project Paramount

+ Project Harvest

About Mark Stücklin

Mark Stücklin is a Barcelona-based Spanish property market analyst, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008).

11 thoughts on “Bad bank to sell portfolio of luxury properties and country estates”

      1. France Fradet

        What I want to know is how can a forced audit on a finca administator be asked for. We are being robbed, and there is absolutely no transparency, and my Spanish neighbours KNOW we’re being robbed, and I’ve proposed forcing an audit. Nothing ever comes of anything. Actually, typing about this make me feel ill physically: the smug-faced administrator of our pool and tennis area is deputy mayor of our town too.

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