Healthy banks selling property cheaper than the Sareb

[Anonymous]

There has been a lot of talk about Spain’s “bad bank” (called the Sareb), and interest from bargain hunters in its property portfolio assuming that it will dump at firesale prices, but the Spanish press reports that the healthy banks that haven’t been nationalised are selling their stocks cheaper than the Sareb. Healthy banks are selling with discounts of up to 50pc, whilst the Sareb is selling with discounts of up to 40pc.

[Anonymous]

I can imagine that Mark. I guess going in and talking to a bank manager in the town where you want to buy would get you much better discounts with a one to one meeting.

[DBMarcos99]

Is it the case that Sareb are looking more at bulk sales to investment bodies (and in those cases far larger discounts will be granted)? I’ve read this recently, and would like to know the answer to this.

[Author]

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