The Spanish property crash has been going on for seven years, but banks still have tens of thousands of repossessed holiday homes and developments to sell.
The Spanish property portal Idealista.com reports that Spanish banks still have 150,000 real estate assets on their books, including garages, offices, industrial buildings, land, and lots and lots of homes.
Discounts on offer might not be as aggressive as they were, but there are still some good deals to be had, say Idealista. Especially holiday homes, with discounts of up to 50 per cent or more.
For anyone interested, here is a list of most of the banks and their real estate websites:
Banco Santander: Altamira Inmuebles http://www.altamirainmuebles.com/
BBVA: BBVA Vivienda https://www.bbvavivienda.com/
Popular: Aliseda Inmobiliaria https://www.alisedainmobiliaria.com/
Caixabank: Servihabitat http://www.servihabitat.com/svhPortal
Bankia: Haya https://www.haya.es/
Banco Sabadell: Solvia http://www.solvia.es/
Bankinter: Bankinter https://www.bankinter.com/www/es-es/cgi/ebk+inm+home
Grupo BMN: BMN Viviendas https://www.bmnviviendas.com/
Kutxabank: Kutxabank Inmibiliaria http://www.kutxabankinmobiliaria.es/
Unicaja: Unicaja Inmuebles http://www.unicajainmuebles.com/inicio.do
Caja España Duero: Giasa Inversiones http://www.giasainversiones.es/
Ibercaja: Portal Inmobiliario Grupo Ibercaja http://portalinmobiliario.ibercaja.es/home/
Liberbank: Liberbank Viviendas http://www.liberbankvivienda.es/
Abanca: Ecogecasa http://www.escogecasa.es/
Cajamar: Cimenta2 http://cimenta2.com/
Roy says:
If the banks want to sell their properties, then they need to improve their websites which are almost all completely useless when compared with Rightmove etc.
David says:
I see the article mentions ‘discounts of up to 50% or more’ but is this based on actual previously advertised or sold prices’? Previously advertised or sold prices are no reflection on their correct worth. The reason I ask is that it is generally accepted that Spanish property prices were overblown in the boom years and therefore nobody knew their true worth. Perhaps the current prices are at the levels they should have been in the boom and buyers maybe should only now make much reduced offers if they wish to buy.