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one hears frequently about banks having property assests which they cannot sell, only today I read MARK being quoted as “The properties that banks fail to sell before the onset of winter will hang around on their balance sheets until at least the spring next year, when the holiday-home market gets going again. This stock is expensive to maintain, giving banks an incentive to drop prices now in order to make a sale”……
Are other banks in Portugal, Italy, Greece doing same thing
Does anyone know how to find out what these bank assets are? Is there a list, register, website?
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try this bank sold an entire block recently
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Those “assets” may soon become property of what is called a Bad Bank
http://www.bbc.co.uk/news/business-19437308
The Bank of Spain will assess the value of the assets being transferred into the “banco malo” and the banks will receive cash, debt or shares in return, said economy minister Luis de Guindos.
Of course the ‘Bad Bank’ will be expected to sell off those assets at a later date, and to make a profit! I believe this was the theory behind what happened with Northern Rock.
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thats was interesting and useful
But the man in the street does not have easy access of the repossession assets list still…..they are not helping themselves really!!
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@boothy wrote:
here it is – nice views
they look nice enough for 70% discount……but who knew of this?
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@dbmarcos99 wrote:
Those “assets” may soon become property of what is called a Bad Bank
http://www.bbc.co.uk/news/business-19437308
The Bank of Spain will assess the value of the assets being transferred into the “banco malo” and the banks will receive cash, debt or shares in return, said economy minister Luis de Guindos.
Of course the ‘Bad Bank’ will be expected to sell off those assets at a later date, and to make a profit! I believe this was the theory behind what happened with Northern Rock.
Interesting news, but you.re right, this will not help the situation but just hide it
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It is not always the size of the discount that is important as some of these apartments were vastly overpriced at the start. I certainly don’t think they are much of a bargain seeing as it’s a Manilva location 🙄
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@katy wrote:
It is not always the size of the discount that is important as some of these apartments were vastly overpriced at the start. I certainly don’t think they are much of a bargain seeing as it’s a Manilva location 🙄
you’re right, pricing has a lot to do with current situation faced by banks. Greed got the better of them and now everyone has to pay
Sounds like you are familiar with Manilva, etc do you live in Spain? -
Recent returner but I lived there 15 years 😀
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@leo450 wrote:
one hears frequently about banks having property assests which they cannot sell, only today I read MARK being quoted as “The properties that banks fail to sell before the onset of winter will hang around on their balance sheets until at least the spring next year, when the holiday-home market gets going again. This stock is expensive to maintain, giving banks an incentive to drop prices now in order to make a sale”……
Are other banks in Portugal, Italy, Greece doing same thing
Does anyone know how to find out what these bank assets are? Is there a list, register, website?
idealista.com is the biggest portal in Spain and it allows you to filter for repossesions (“de bancos y cajas”)
Otherwise just pick a Spanish bank, go to their web page and there will usually be a link to their property site.
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@chopera wrote:
@leo450 wrote:
one hears frequently about banks having property assests which they cannot sell, only today I read MARK being quoted as “The properties that banks fail to sell before the onset of winter will hang around on their balance sheets until at least the spring next year, when the holiday-home market gets going again. This stock is expensive to maintain, giving banks an incentive to drop prices now in order to make a sale”……
Are other banks in Portugal, Italy, Greece doing same thing
Does anyone know how to find out what these bank assets are? Is there a list, register, website?
idealista.com is the biggest portal in Spain and it allows you to filter for repossesions (“de bancos y cajas”)
Otherwise just pick a Spanish bank, go to their web page and there will usually be a link to their property site.
excellent, thanks
Do you know names of any typical banks?
cheers
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