Sareb sales expose weakness in market say Fitch

This topic contains 3 replies, has 4 voices, and was last updated by Profile photo of Anonymous Anonymous 4 years, 1 month ago.

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  • #57573
    Profile photo of SPI News Feed
    SPI News Feed

    The sales rates of Spain’s bad bank, Sareb, expose the current weakness of the Spanish housing market according to the ratings agency Fitch

    The gap between supply and demand leads Fitch to believe that it will take years to absorb the surplus housing stock up for sale by both private vendors and Sareb.

    They also throw into doubt Sareb meeting its target of closing sales on 42,500 properties in 5 years.

    Belén Romana, President of the Sareb

  • #117383
    Profile photo of Chopera

    I suspect it’s more the weakness of Sareb and the other banks in actually bothering to market their properties properly and pricing them correctly.

  • #117392
    Profile photo of Anonymous

    @chopera, I second that !!!!

  • #117400
    Profile photo of Anonymous

    Fitch also said that the Sareb might push down house prices when they start selling in earnest.

    Fitch don’t say it but the same is true of vulture funds: if they buy they will want to liquidate ASASP and the best way to do that is selling cheap. Pushes the prices down for everyone.

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