I looked at the prices of “repossessed properties” listed by those freshly created Bank Real estate Companies and they are way above the saleable market prices! this is not surprising because the mortgage amounts outstanding are much too high and if they have to add registration costs, taxes, community fees and legal costs of repossession it is obvious that those properties will not find any buyer.
The only way is to take a huge loss and sell at 50% of the 2007 market value! How much more time do the banks have to do that?
Everything you need to know about property in Spain
Login or Register to read articles without any adverts in the text.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.