Is it too late to invest in bank repossessions properties in Spain?

Less hassle and a nice return?

Many of our readers told us that, yes, you get a return with “buy to let” properties in Spain but you have to manage your property and all the issues going with it, so they asked us: are you aware of any product to get “smart exposure” to the real estate market in Spain? Many others asked us, how can I invest in bank-repossessed properties in Spain?

We found a fund investing only in bank-repossessed properties in Spain and checked it for ourselves so that’s why we wanted to share the results of our work with you.

1. 1. Why did we like the fund and this opportunity?

      1. The management team has 10 years of experience and a track record
      2. Competitive edge: Thanks to their huge geolocalized database of prices’ history with properties’ characteristics: the ones they bought and sold, all the bank properties sold for the last years, all the properties sitting on the market… They have a very accurate idea of what is the “fair” price of any property when bidding for a portfolio. Appraisal work and an on-site visit will do the rest of the job.
      3. The Spanish legal system: “creates” this situation and doesn’t give a lot of choices to the Spanish banks for managing their repossessed properties while keeping a good image.
      4. It is very costly for banks to hold properties on their balance sheet: both in terms of solvency ratio and yearly costs (tax, insurance, community costs, maintenance costs,…)
      5. Opportunity should stay for many years: there are not enough players to dry up properties from the Spanish banks’ balance sheets. Do you remember, it all started in 2008!
      6. Clear investment process: this is a very data-driven and systematic investment approach with many verification steps.
      7. Allows to buy real estate on the Spanish market “at a discount”. As all properties are bought with a big discount, the risk (if any) to the real estate market prices is much lower than any real estate investment: whenever a property is sold, the discount is ‘locked” for the investor which reduces his future risk even more, should the real estate market go down at any time in the future.
      8. Last but not least, no hassle as you would have with any direct real estate investment anywhere in the world.

       

      Of course, as it is a fund, investors should check their tax situation for any investment.

      As you could guess, this kind of fund is for well-informed (and wealthy) investors able to manage and diversify their risks. This is not a recommendation to invest or any advice regarding this investment opportunity. That is why we don’t advertise the name of the company managing this fund but if you want to go further with your due diligence, you can contact them by filling out the form at the end of the report.

       

      Here is what we found out:

1. A fund buying bank repossessions directly from Spanish banks

    

   The fund pursues a unique investment strategy of recurrently:

   1. Acquiring,
   2. repossessing and
   3. reselling residential properties in well-populated Spanish regions.

    

   The properties may be subject to adverse possession or “Squatters”, which is resolved by reaching an amicable financial settlement with the occupant. If this doesn’t work, the fund will start a legal procedure and this will take a maximum of 3 years to get full ownership. 90% of the time the fund will get an agreement with the current squatters.

    

   The Fund will cherry-pick properties among portfolios of occupied residential assets offered by financial institutions.

   

   Example of a Bank repossession in Spain in the portfolio

    

   An institutional manager based in Madrid

   The fund manager is active for more than 10 years in this market.

   Of course, as the fund manager is well known in Spain, they get portfolios all the time from the biggest banks in Spain.

   The assets are only offered to a select group of reputable buyers, like the institutional manager managing the fund, due to the complex nature of solving potential adverse possession situations.

    

   They told us that unique sourcing and strict discipline enables the Fund to buy at very deep discounts vs the current market price as they have to get the property back to the market (before tax expenses), but yes that’s why there is a nice margin left for the buyer, not bad!

    

   The Fund Manager will partner with the leading Spanish-occupied real estate specialist which employs a socially responsible repossession procedure based on mutual agreement Ethical conduct, compliance and strict adherence to legislation are essential.

   Financial settlement occupants are offered financial compensation in return for vacating the property voluntarily.

    

   The Luxembourg fund will reinvest in new properties continuously

   The fund has an open-ended structure, which means that it will stay open as long as the opportunity is present for the fund manager, and is full AIFM regulated and registered in Luxembourg as a “Reserved Alternative Investment Fund” (RAIF) which allows the fund to invest directly in real estate.

    

   The proceeds from sales will be redeployed to buy new portfolios.

    

   The average holding period of a property is 18 months.

    

   Win-win for all the parties involved:

   • banks can offload risk assets sooner,
   • occupants agree with the manager to relocate thanks to a mutual agreement.

    

   Target Net Return

    

   The open-ended fund was launched in 2021 and targets annual net returns of 8.5% to 11% without leverage in a stagnating housing market. Over time the fund may use limited leverage for enhancing returns to 11% -14%.

   The fund manager based in Madrid has been running these strategies since 2011, which is why they could give return targets.

   High-demand area’s

   The fund will exclusively focus on well-populated area’s which have sufficient transaction volume i.e. no rural area’s. A majority of assets will be located in major cities focused on Spanish citizens, not tourists.

    

   Buffers against capital losses

   The fund is buying at very deep discounts, so even after accounting for all costs and taxes, post-COVID real estate prices would have to decline by more than 12% to make a small capital loss, according to the manager. In addition, the Fund is spreading asset purchases over time making it less sensitive to price shocks compared to closed-end real estate funds.

   Unique proprietary technology

   Each property is appraised by a proprietary big data valuation software, which tracks key features (e.g. price, location, surface, floor, amenities,…) of 25mm references gathered over many years. Each appraisal is also supported by a dedicated team of analysts. In addition, a third party will be appointed to verify the value of the holdings.

   Strategy with a track record

   The fund manager told us that they did successfully repossessed and resold over 2,500 assets since 2011. Over 90% of historical property portfolios were eventually sold at a profit that was in line with or above the Fund’s target return.

    

   Ethical & socially responsible procedures

   Based on reaching a voluntary agreement with occupant(s). No occupant is ever threatened or evicted by any other means except those explicitly approved by banks and the law.

    

   High barriers to entry

   This is a niche strategy that is difficult to copy, banks are only willing to sell large portfolios to a legitimate buyer with national coverage who uphold strong compliance standards.

    

   Limited correlation to financial markets

   They described this strategy as an alternative investment strategy focused on existing residential real estate (no development).

    

   A specific opportunity existing only in Spain

   Due to inertia of legal procedures, the culture of ‘occupants’ and the recovery of a major real estate crisis.

   Since the Global Financial Crisis and the ensuing real estate crisis in Spain, the national and regional lenders have unwillingly become large real estate owners.

    

   Unfavourable impact on bank balances sheets

   Not only do banks lack the expertise and staff to properly manage real estate, but the assets also have an unfavourable impact on their minimum capital requirements.

    

   Many properties have sat idle on banks balance sheets for years, and in the meantime have become occupied by people that have gained unlawful entry to the property and now live in it for free.

    

   In Spain, it may take years for owners to obtain court approval to evict unauthorised occupants. In 2018 it became possible for natural persons to pursue an “express judicial procedure”, a procedure which can still take months to evict occupants out of their own homes, but this is not the case for owners that are legal entities as banks real estate funds. Despite being very slow, the Spanish judicial system eventually favours the rightful owner.

    

   Spanish banks are still offloading legacy real estate portfolios from the 2008 crisis, as well as annually foreclosing over 25 000 assets based on police data, at least 87 000 homes are subject to adverse possession, although some consultants estimate the real number closer to 100 000.

   

   Another example of a Spanish bank repossessed property

    

    

2. What is the investment process?

   There are 4 steps:

   1. Appraisal

   The local partner, thanks to reputation and network, has the opportunity to bid on and cherry-pick from hundreds of assets per week from different institutional sellers.

   Each asset is appraised by proprietary software that sources data from 20 million assets This value is the market value or minimum selling target, under normal conditions.

   Each appraisal is verified by a team of professionals.

    

   2. Acquisition

   Next, they apply a strong discount on top of accounting for fees for acquisition, repossession and sale, which leaves a substantial profit margin to the fund.

   The local partner is bidding on assets all year round, negotiations with banks may take many months due to aggressive bidding (only a small share of bids are ever accepted). The Fund will never acquire portfolio’s below its ROI threshold In addition we may order a third party appraisal of all the individual assets in a portfolio.

    

   3. Repossession

   Each occupied asset is visited by a trained in-house staff member. After identifying the occupant(s), the staff member starts the negotiation.

   The selling bank has already initiated a legal eviction process, so the occupant is often more inclined to accept vacating the property rather than risk contact with law enforcement.

   If the negotiation doesn’t work (ca 10% of cases) the fund will pursue judicial track

    

   4. Sale

   The asset is cleaned, and secured (new lock, fortified doors, alarm) as well as lightly refurbished where necessary.

   The fund hires a network of local real estate agents to sell and promote the repossessed assets.

   Some assets will already be sold 4 months after purchase, 50 within 16 months and 80 within 2 years

   

   Another building of a Spanish bank repossession from the portfolio

    

3. More on Bank Repossessions in Spain

   90% of adverse possession occupancies are resolved through mutual agreement (outside of court)

    

   1. Legal procedure

   Usually, a legal eviction procedure is initiated before the acquisition (by banks). In Spain however, this can be a very cumbersome process, taking up to several years. This track is nevertheless pursued to have some leverage in the negotiation process. All processes strictly comply with legal regulations and are approved by the sellers

   2. Visit Property

   Once the judicial procedure has been initiated, the occupant is notified and visited to explain the situation. Not used to this personal approach, some occupants may already leave. Most leave after negotiating compensation for foregoing a few months of rent (as they know they will otherwise be evicted at some point).

    

   3. Negotiate repossession

   More than 90 of the assets are repossessed through mutual agreement, the rest via legal procedures. Banks and funds are unable to pursue this strategy due to the risk of attracting even more occupants to all their empty assets.

   Hundred of the negotiators are proprietary staff (none outsourced), specialized in repossessing occupied assets in Spain.

    

   4. Security and refurbishment

   Once the property is vacated, it is professionally cleaned, and a fortified door, new lock and alarm system are put in place (to avoid people reoccupying) If needed, some basic painting refurbishment is done, however, the apartments are typically sold in their existing condition (at small discounts compared to fully refurbished or new apartments)

    

4. Attractive economics

   Thanks to their sourcing and in-depth experience the Fund expects to perform above average compared to most real estate funds out there.

   • The Fund’s asset manager has developed a proprietary underwriting software including over 26 million Spanish real estate references and can make 50 000 daily valuations Parameters for valuation include surface, price, m² geolocation, cadastral reference, building, elevator/garage, time in the market, etc
   • AI algorithms are implemented in the decision-making process, however, all valuations are corroborated by at least 2 in-house analysts.
   • Target market price as calculated by in-house software valuation analysts The asset is compared to similar assets (based on the above parameters) on the market and sold within the last months, in a small radius.
   • Purchase price incl taxes and origination fees typically 35% to 40% below the target market price to account for costs and base case profit margin (per portfolio) of 25%.
   • Expected costs include annual property taxes, community fees, repossession charges, refurbishment, alarm, lock and intermediaries (real estate agents).
   • ‘Base case’ profit margin is expected to earn 25% to 27% base case on the total investment (cost transfer tax/stamp duty) at SPV level over 2 to 3 years.
   • Target market price as calculated by in-house software valuation analysts The asset is compared to similar assets (based on the above parameters) on the market and sold within the last months, in a small radius.
   • Excess margin the asset is usually put on the market for 150 of the target price (or 230 of investment) and lowered every 2 to 4 weeks.
   • Historically 90 of all portfolios repossessed by the Fund’s asset manager were sold above base case ROIs (and aggregated target prices).

    

   Of course, don’t underestimate potential risks for any (real estate) investment.

   

   Most of the time, even if bank repossessions are occupied in Spain, they are in a good state.

    

5. Here are some of the risks we identified with the fund strategy

   • Liquidity: Repossessing some assets in the portfolio may take longer than expected, thereby depressing IRR’s.
   • COVID 19 fallout (or further crisis): Increasing public debt and unemployment may negatively impact demand for low-income housing.
   • Valuation risk: Risk of overpaying for certain portfolio assets or the condition of the asset appears to be worse than assumed.
   • Reputation: Repossessing assets subject to adverse possession is a delicate matter Unfair evictions may lead to reputational damage for anyone involved.
   • Refurbishment: Although the assets are expected to be in subpar condition, some assets may be in a poorer state than expected.

    

6. Do you want to know more?

   Ask for more due diligence from the manager by sending your contact details directly to the manager. As you understood our disclaimer at the start of this article, every investor is responsible for his own risks and HTBIS does not promote or advise to invest in any specific product. We accept to put you in direct contact with the fund manager by filling this form so we don’t make any advertising for the company. Don’t hesitate to tell them that you read it on HTBIS, they will surely answer your questions with even more details as they did with us. That is how we create value for our readers.

If you want to find a bank property, here is where you should start: Register to our exclusive Spanish bank properties listings and read: Where are the Spanish bank properties for sale?

Remember, the risks are higher if you buy a bank property from a bank. In Spain, furthermore, we would always advise you to work with a lawyer when you buy a property. He will make sure everything is fine. We developed privileged relationships with local lawyers very active with foreigners, don’t hesitate to ask us for a real estate lawyer anywhere in Spain from our network in a specific region. A technical survey of your Spanish property is strongly advised as it is a bank property.

Before buying in any region, have a quick look at all our research on the top 20 Spanish Cities: Everything you ever wanted to know about the top 20 Spanish Cities real estate markets

Looking for an expert in Spain: Lawyer, Architect, Property Hunter, Mortgage? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full HTBIS team here

Our FAQ on Bank repossessions in Spain

The post Are bank repossessions in Spain an attractive investment opportunity? appeared first on How to buy in Spain.

A response to your requests

Discover the untapped potential of Bank Repossessions in Spain

As the real estate market continues to evolve, new and exciting investment opportunities consistently arise. Bank repossessions in Spain stand out as one of these compelling avenues, presenting the potential for high returns and the promise of lucrative investment journeys.

Over the years, we’ve listened closely to our client’s interests and requests. We’ve taken note of your growing curiosity in the field of bank repossessions and the substantial potential they hold. It’s because of your interest that we’ve decided to delve deeper into this market segment, capitalizing on our position as a leading figure in the Spanish real estate market.

We can provide our clients with unparalleled access to an extensive array of bank properties. This includes properties directly repossessed by banks, as well as a portfolio of properties acquired by investment funds. These funds have directly purchased significant portfolios from banks, as Spanish banks needed to pare down their balance sheets.

This area of the market is often overlooked by many investors, yet it is one we have both the proficiency and exclusive access to explore. Our experience and far-reaching industry connections enable us to bring unique investment opportunities to you, ones that are often hidden from the public eye. By harnessing these benefits, we are committed to helping you discover your perfect property investment in Spain, primed for profitability and growth.

Too busy? Here is our quick-read summary:

Bank repossessions in Spain, our 2 minutes video

Now, let’s delve into the subject of bank repossessions in Spain.

Unveiling the realm of Bank Repossessions in Spain

Bank repossessions, also known as distressed sales, are properties that banks seize due to mortgage defaults. It’s a regrettable circumstance for the original property owners but an undeniable investment opportunity for the insightful investor. The reason? These properties are often priced below market value, allowing investors to buy at a lower cost and sell at a higher price when the market bounces back.

Spain, with its enchanting landscapes, rich history, and thriving tourist industry, presents a fertile ground for such investments. Its appealing lifestyle and diverse property market make it a favourite destination for real estate investors worldwide.

Malaga, Spain: High-angle view of the cathedral in the historic city centre.

Why is there such an opportunity in Spain with Spanish bank repossessions?

The realm of bank properties in Spain offers a considerable opportunity for prospective investors. A staggering number of these properties – around 600,000 according to some estimates – currently reside on the balance sheets of Spanish banks. The proliferation of bank properties stems back to the financial crisis of 2008. Amid economic instability and rising unemployment, many property owners defaulted on their mortgages, leading banks to repossess a significant number of homes. However, banks are not designed to manage real estate portfolios over the long term. They are more inclined towards liquid assets, and the cost of holding onto these properties can be considerable. Consequently, Spanish banks are highly motivated to sell these properties, often at below-market prices, to clear them off their books. This scenario creates a rich landscape of investment opportunities for savvy investors, with a vast array of properties available at potentially bargain prices.

Nerja, Spain: People walking in a charming narrow shopping street in the city centre.

Why invest in Bank Repossessions in Spain?

The combination of below-market-value prices, an appreciating property market, and the country’s inherent appeal make Spanish bank repossessions a potentially profitable venture.

Firstly, the lower initial investment cost allows for higher returns on investment (ROI). Additionally, given Spain’s resilient real estate market, there’s a higher probability of the property’s value appreciating over time, leading to significant capital gains.

Moreover, Spain’s vibrant tourist sector means there’s a robust rental market. As an investor, you can potentially profit from short-term holiday lets or long-term rental income, especially in popular tourist regions like Costa del Sol, Costa Blanca, or the Balearic and Canary Islands.

Exclusive access to Spanish Bank Repossessions

Getting access to these bank repossessions is not always straightforward. Without the right contacts and knowledge, it can be challenging to navigate the Spanish property market and uncover these hidden gems. That’s where we come in.

We are excited to announce our exclusive mailing list, designed specifically to provide privileged access to the finest selection of bank-repossessed properties in Spain. As a member of this list, you’ll be the first to hear about the latest bank repossessions, offering you a head start in your investment journey.

Our seasoned team of real estate experts and local insiders will hand-pick the best bank-repossessed properties and deliver them directly to your inbox. The properties we select are not just ordinary houses; they are potential wealth builders, poised to deliver profitable returns.

View of Spanish village with white houses, valley, summer

The main characteristics of Spanish bank properties

1. Need for Renovation: These properties often require some level of renovation or refurbishment, given that previous owners might have neglected maintenance due to financial issues. The need for renovation can range from minor cosmetic updates to significant structural repairs, depending on the property’s condition when it was repossessed.
2. Not High-End: Bank-repossessed properties in Spain are typically not on the high end of the market. They usually belong to individuals who defaulted on their mortgage payments, and these tend to be more affordable, modest homes rather than luxury villas or high-end apartments.
3. Budget: Bank repossessions can offer excellent value for money. The starting price for some of these properties can be as low as 30,000 euros. However, the average price point for a bank-repossessed property in Spain usually hovers around 100,000 euros. This budget can fluctuate depending on the location, size, condition of the property, and the extent of required renovations.
4. Location: Bank-repossessed properties are often located inland, in smaller towns or villages, rather than in major urban centers or coastal tourist hotspots. This is largely due to the lower property prices in these areas, which makes them more likely to be the type of property bought with a mortgage that eventually gets defaulted on.
5. Community Living: Given their more rural locations, many of these properties provide an opportunity to experience community-oriented living. Spanish villages are known for their close-knit communities and slower pace of life, which can be an attractive prospect for those looking for a quieter, more peaceful lifestyle or an authentic Spanish living experience.
6. Potential for Profit: Despite some of the drawbacks like renovation needs and less glamorous locations, these properties present excellent potential for profit. A bank-repossessed property purchased at a significantly lower market value price, even after the cost of renovation, can still provide a considerable return on investment, especially if the property market appreciates.

It’s essential to do thorough research and consider employing a professional for advice when buying bank-repossessed properties. If approached correctly, these properties can present a fantastic opportunity for investors seeking excellent value and potential returns in the Spanish property market.

Benefits of our mailing list

By joining our mailing list, you’ll receive:

1. Early Access: Be the first to learn about new bank-repossessed properties on the market.
2. Exclusive Listings: Access listings not available to the general public.
3. Expert Advice: Benefit from our team’s extensive knowledge and experience in the Spanish real estate market.
4. Detailed Information: Receive comprehensive property details, including pricing, location, and potential ROI.

Ready to discover the potential of Bank Repossessions in Spain?

Bank repossessions in Spain offer unique opportunities for the shrewd investor, promising potential for lucrative returns. With our exclusive mailing list, you can effortlessly navigate this realm and unearth the ideal investment for you.

Subscribe to our mailing list today! Unlock EXCLUSIVE access to Spanish bank repossessions

So, are you ready to explore the hidden potential of bank repossessions in Spain? Sign up for our exclusive mailing list today and step into the world of rewarding real estate investments. You’re just one click away from turning the key to your future wealth-building property in Spain.

To the potential that awaits!

Invest in Bank Repossessions in Spain from your sofa

Of course, this requires a hands-on approach if you want to go this road. It could be a new start for a new life for some of you we hope. If you don’t want to take this hands-on approach, don’t forget we have found an institutional asset manager managing a Luxembourg-based fund with Spanish bank properties exclusively in it.

Read more on the subject: Are bank repossessions in Spain an attractive investment opportunity?

If you want to find a bank property, here is where you should start: Where are the Spanish bank properties for sale?

Remember, the risks are higher if you buy a bank property from a bank. In Spain, furthermore, we would always advise you to work with a lawyer when you buy a property. He will make sure everything is fine. We developed privileged relationships with local lawyers very active with foreigners, don’t hesitate to ask us for a real estate lawyer anywhere in Spain from our network in a specific region. A technical survey of your Spanish property is strongly advised as it is a bank property.

Before buying in any region, have a quick look at all our research on the top 20 Spanish Cities: Everything you ever wanted to know about the top 20 Spanish Cities real estate markets

Our FAQ on Investments in Spanish bank-repossessed properties

The post Unlocking the hidden potential of Bank Repossessions in Spain appeared first on How to buy in Spain.

Spanish bank repossessions: Your ultimate guide to 120.000 repossessed properties

Residential, Land, Offices and Industrial repossessed properties in Spain

First, why buy a Spanish bank property?

Better financing conditions

• Price is lower most of the time because the bank doesn’t want to keep it on its balance sheet
• More lending: one of the big advantages is that you can get a bigger loan … up to 100% of the Value of the property, in general foreigners would have difficult to get more than 70%. Have a quick look at our mortgage calculator to know your buying power.

We developed a detailed mortgage calculator: Payment schedule, monthly payments,…

• Better financing conditions: Find the current mortgage conditions in our last paper: What are the best Mortgage rates in Spain in 2018?

So, if you find your bank property, negotiate the best rates with your Spanish bank ;). Have a look at our free report: Your Spanish Mortgage: How to apply? How to get the best rates? The only condition to get it is to subscribe to our weekly newsletter.

Why are there so many bank properties in Spain?

As you can see from our table “Returns and mortgages in Spain“, there are about 25 million properties in Spain. Before the crisis of 2008, about 0.8 million properties were sold per year in Spain.

In 2016, 456.000 properties were sold and 73.000 were foreclosed, i.e. less than 0.3% of the properties in Spain.

If you prefer to play it safe, you could look at new build projects available now. New build projects are qualitative and cheap in Spain.

73.000 properties foreclosed in 2016

Before 2016, A lot of properties were foreclosed after the quick increase in real estate prices in 2007. In the following years after the crisis and with the decreasing prices, people couldn’t afford those properties anymore.

Check the chart of real estate price evolution before and after 2007:

Which regions have the highest foreclosure rate in Spain in 2016?

• Region of Murcia 0.89%,
• Andalusia 0.74%
• Valencian community 0.7%.

For more on that subject, read our article on the foreclosures in Spain: Foreclosures in Spain in 2016.

Our Tips

• Read our useful paper on this: Our top 10 pieces of advice for buying your property in Spain
• Allways hire a lawyer to check the situation of the property and to clear any legal hurdle. Fill the form here and find your local independent lawyer thanks to the local network of Howtobuyinspain.

• Technical check with an architect? Those properties could be old or new but unfinished or empty for a while…
• How to pay in £,$,¥ Pounds, Dollars, Francs, Yuan for my Spanish property?

• Study properties in the neighbourhood in order to make the perfect offer for the bank.
• Location not always terrific: pay attention to the location.
• Submit a bid directly to the branch manager, even better if you are a customer.
• Ask the local branch manager if they are properties not listed online.
• Have a look at all our partners’ deals: we have the connections with local lawyers working for foreigners in many languages in all the Spanish regions and we have other interesting contacts in our network, check it here:

Your easy guide to help you find your foreclosed property

How we sorted the properties?

In order to help you as much as we can and as we noticed that our earlier paper Where are the Spanish bank properties for sale? was a direct big success. We decided to have a more detailed analysis of all the different bank repossessions on the market, we regrouped all the Spanish bank portals with a lot of bargains… We found more than 120.000 properties for sale.

We sorted the properties by type of use: Residential, Land, Offices and Industrial.

For all those categories, we will provide you with the top 3 bank real estate portals with the most properties.

At the end of this section, you will find our exclusive table (easier to read on a computer, difficult to fit so many data in a readable table for mobile users, sorry) regrouping all the Spanish bank websites with the repossessed properties.

Our tip: As you know, some banks are more active than others in some regions. Always try to know which one you should check for your region… a small local bank could be much better than a large national bank for finding your dream property in a certain region.

Residential Bank Repossessions in Spain

The three real estate bank portals with the most Residential properties for sale are:

1. Haya Real Estate: Haya Real Estate is the portal of Bankia. Bankia is the result of a merger of four smaller banks. They have more than 14.000 repossessed residential properties all over Spain
2. Servihabitat: Servihabitat is the portal from “la Caixa Bank”. Servihabitat is the portal from “la Caixa Bank”. CaixaBank is the leading retail bank in Spain, with the largest customer base. They have more than 10.000 repossessed residential properties all over Spain.
3. Sareb: Sareb is a company created to manage assets from many Spanish banks. As of June 2017, the portfolio of Sareb has 39 billion euros, of which 30% is real estate. They have more than 10.000 repossessed residential properties all over Spain.

Find more residential bank repossessions on our exhaustive table of all the Spanish bank web portals at the end of this article.

Land Bank repossessions in Spain

The four real estate bank portals with the most plots for sale are:

1. Altamirainmuebles: Altamirainmuebles is the real estate portal of Banco Santander, the largest bank in Spain. It has more than 8.000 plots of lands.
2. Three other players have about 5.000 plots of land:
   • Haya Real Estate: Haya Real Estate is the portal of Bankia. Bankia is the result of a merger of four smaller banks.
   • Servihabitat: Servihabitat is the portal from “la Caixa Bank”. Servihabitat is the portal from “la Caixa Bank”. CaixaBank is the leading retail bank in Spain, with the largest customer base.
   • Sareb: Sareb is a company created to manage assets from many Spanish banks. As of June 2017, the portfolio of Sareb has 39 billion euros, of which 30% is real estate.

Find more plot of land from bank repossessions on our exhaustive table of all the Spanish bank web portals at the end of this article.

Office Bank repossessions in Spain

The three real estate bank portals with the most plots for sale are:

1. Haya Real Estate: Haya Real Estate is the portal of Bankia. Bankia is the result of a merger of four smaller banks. They have more than 2.000 repossessed offices all over Spain
2. Cajamar: Cajamar properties are managed by Haya Real Estate, the portal of Bankia. Bankia is the result of a merger of four smaller banks. It has about 800 offices in Spain for sale.
3. Solvia: Solvia is the portal from Banco Sabadell. It’s the fourth biggest bank in Spain. It has about 800 offices for sale.

Find more Office bank repossessions on our exhaustive table of all the Spanish bank web portals at the end of this article.

Industrial Bank repossessions in Spain

The two real estate bank portals with the most Industrial properties for sale are:

1. Altamirainmuebles: Altamirainmuebles is the real estate portal of Banco Santander, the largest bank in Spain. It has about 600 industrial properties.
2. Haya Real Estate: Haya Real Estate is the portal of Bankia. Bankia is the result of a merger of four smaller banks. It has about 600 industrial properties.

Find more industrial bank repossessions on our exhaustive table of all the Spanish bank web portals at the end of this article.

Maybe one of THE BEST PLACE TO CHECK? The official Spanish State portal for auctions (in Spanish)

From time to time, the Spanish State has to sell properties to recoup taxes or other, you have a list of properties per region:

The official Spanish State portal for auctions

Our full updated list of the Spanish bank real estate portals with bank repossessions

Move with right or left arrows to see all the data of this table

If you want you can find those Spanish bank real estate web portals on our web page regrouping all the real estate websites of the Spanish banks. If you are a financial investor, our last article: “Are bank properties in Spain a nice investment?” could interest you.

Last but not least, if you are about to buy in Spain, read property buyers guide written for any foreign country and our two very useful articles:

The cost of buying a property in Spain: What is the real cost of buying your Spanish Property?

The cost of owning a property in Spain: What is the real cost of owning your Spanish property?

Remember, the risks are higher if you buy a bank property from a bank. In Spain, furthermore, we would always advise you to work with a lawyer when you buy a property. He will make sure everything is fine. We developed privileged relationships with local lawyers very active with foreigners, don’t hesitate to ask us for a lawyer in a specific region.

Before buying in any region, have a quick look at all our research on the top 20 Spanish Cities: Everything you ever wanted to know about the top 20 Spanish Cities real estate markets

Looking for an expert in Spain: Lawyer, Architect, Property Hunter, Mortgage? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full HTBIS team here

The post Spanish bank repossessions: Your ultimate guide to 120.000 properties appeared first on How to buy in Spain.

Click on any flag to get an automatic translation from Google translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

Let’s check what are your Mortgage costs for your property

In order to help you with your purchase in Spain, we added a Mortgage pricer to help you check your financial power.

It will give you your monthly payments for your mortgage, a table of all your monthly payments, a chart of the evolution of your monthly payments…

Of course, you may adjust the calculations with your own data, you can reverse as well some calculation… Don’t hesitate to use it!

Before we jump to a first example, we thought it would be useful to give you a summary table of your fixed monthly payments for your mortgage depending on:

1. the interest rates (fixed rates of course)
2. the length of the mortgage

Summary table of your monthly reimbursements for a Mortgage of €100.000

Starting from this table and if you are in a hurry, it is easy to estimate any mortgage repayment for any amount and any period between 10 and 20 years, adjust accordingly the numbers.

Get the best mortgage rate in Spain

If you want to go into the details, here is a calculation example we did for a €100.000 mortgage:

As you will see, if you take a mortgage of €100.000 on 10-year with a rate of 3.5%, your monthly payment to reimburse your mortgage will be €989.

CLICK either “Calc” or “Payment Schedule” or “Charts” at the bottom of the pricer.

	
	







	

	
	


		
		

		

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Mortgage Loan Calculator		


		

		

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Mortgage Calculator Help
			
You can calculate the mortgage loan amount from the price of the real estate by providing the down payment percentage.
			
If you know the mortgage amount you can afford and the cash down payment percentage required, you can calculate the affordable real estate price.
			
Or if you know the price of the real estate and the loan amout and enter "0" for the down payment percentage, the calculator will calculate the down payment amount and percentage.
			
Points, Annual Property Taxes, Annual Insurance and Private Mortgage Ins. (PMI) are all optional. If you enter values, the periodic portion of each will be calculated and shown on the schedule. Property taxes and insurance are combined under escrow.
			
If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically. (There may be other conditions as well under which the lender will no longer require PMI. One such case might be apprciation of the real estate.)
			
Points are charges that are normally due at closing. Borrowers (normally only in USA) may select to pay a lender "points" up front in exchange for a lower interest rate. Points are expressed in percent and are calculated on the amount borrowed. 3 points on a $200,000 mortgage equals $6,000. If the user enters points, this calculator includes their value in the summary and as part of the total payment at loan origination on the payment schedule.
			
The term (duration) of the loan is expressed as a number of months.
			

				
 60 months =  5 years
				
120 months = 10 years
				
180 months = 15 years
				
240 months = 20 years
				
360 months = 30 years
			
			
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://AccurateCalculators.com/mortgage-calculator
		
	











	
	

		

			

				

					
Currency and Date Conventions
					
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									Albania    (Lek)    Lek12,345,678.99
									Algeria    (Algerian Dinar)    DZD12,345,678.99
									Argentina    (Argentine Peso)    $12.345.678,99
									Armenia    (Armenian Dram)    AMD12,345,678.99
									Australia    (Australian Dollar)    $12,345,678.99
									Austria    (Euro)    €12.345.678,99
									Azerbaijan    (Manat)    ₼12,345,678.99
									Bahrain    (Bahraini Dinar)    BHD12,345,678.994
									Belarus    (Ruble)    Br12,345,678.99
									Belgium    (Euro)    12 345 678,99€
									Belgium    (Euro)    €12.345.678,99
									Belize    (Belize Dollar)    BZ$12,345,678.99
									Bolivia    (Boliviano)    $b12.345.678,99
									 Bosnia/Herzegovina    (Mark)    12.345.678,99KM
									Brazil    (Brazilian Real)    R$12.345.678,99
									Brunei    (Brunei Dollar)    $12,345,678.99
									Bulgaria    (Bulgarian Lev)    12345678,99лв
									Canada    (Canadian Dollar)    $12,345,678.99
									Canada    (Canadian Dollar)    12 345 678,99$
									Chile    (Chilean Peso)    $12.345.679
									China    (Yuan Renminbi)    ¥12,345,678.99
									Colombia    (Colombian Peso)    $12.345.678,99
									Costa Rica    (Colon)    ₡12 345 678,99
									Croatia    (Kuna)    12.345.678,99kn
									Czechia    (Czech Koruna)    12 345 678,99Kč
									Denmark    (Danish Krone)    12.345.678,99kr
									Dominican Republic    (DR Peso)    RD$1,234.99
									Ecuador    (US Dollar)    $12.345.678,99
									Egypt    (Egyptian Pound)    £12,345,678.99
									El Salvador    (El Salvador Colon)    $12,345,678.99
									Estonia    (Euro)    12 345 678,99€
									Faroe Islands    (Danish Krone)    kr12,345,678.99
									Finland    (Euro)    12 345 678,99€
									France    (Euro)    12 345 678,99€
									Georgia    (Lari)    GEL12,345,678.99
									Germany    (Euro)    12.345.678,99€
									Greece    (Euro)    12.345.678,99€
									Guatemala    (Quetzal)    Q12,345,678.99
									Honduras    (Lempira)    L12,345,678.99
									Hong Kong    (HK Dollar)    HK$12,345,678.99
									Hungary    (Forint)    12 345 678,99Ft
									Iceland    (Iceland Krona)    kr12,345,679
									India    (Indian Rupee)    ₹1,23,45,678.99
									Indonesia    (Rupiah)    Rp12.345.678,99
									Iran    (Iranian Rial)    ﷼12,345,678.99
									Iraq    (Iraqi Dinar)    IQD12,345,678.994
									Ireland    (Euro)    €12,345,678.99
									Israel    (Sheqel)    ₪12,345,678.99
									Italy    (Euro)    12.345.678,99€
									Jamaica    (Jamaican Dollar)    J$12,345,678.99
									Japan    (Yen)    ¥12,345,679
									Jordan    (Jordanian Dinar)    JOD12,345,678.994
									Kazakhstan    (Tenge)    лв12,345,678.99
									Kenya    (Kenyan Shilling)    KES12,345,678.99
									Korea (South)    (Won)    ₩12,345,679
									Kuwait    (Kuwaiti Dinar)    KWD12,345,678.994
									Kyrgyzstan    (Som)    лв12,345,678.99
									Latvia    (Euro)    12 345 678,99€
									Lebanon    (Lebanese Pound)    £12,345,678.99
									Libya    (Libyan Dinar)    LYD12,345,678.994
									Liechtenstein    (Swiss Franc)    CHF12’345’678.99
									Lithuania    (Euro)    12 345 678,99€
									Luxembourg    (Euro)    12.345.678,99€
									Luxembourg    (Euro)    12.345.678,99€
									Macao    (Pataca)    MOP12,345,678.99
									Malaysia    (Ringgit)    RM12,345,678.99
									Maldives    (Rufiyaa)    MVR12,345,678.99
									Malta    (Euro)    €12,345,678.99
									Mexico    (Mexican Peso)    $12,345,678.99
									Monaco    (Euro)    12 345 678,99€
									Mongolia    (Tugrik)    ₮12,345,678.99
									Morocco    (Dirham)    MAD12,345,678.99
									Netherlands    (Euro)    €12.345.678,99
									New Zealand    (NZ Dollar)    $12,345,678.99
									Nicaragua    (Cordoba Oro)    C$12,345,678.99
									
									Nigeria    (Naira)    ₦12,345,678.99
									Norway    (Norwegian Krone)    kr12 345 678,99
									Norway    (Norwegian Krone)    kr12,345,678.99
									Oman    (Rial Omani)    ﷼12,345,678.994
									Pakistan    (Pakistan Rupee)    ₨12,345,678.99
									Panama    (Balboa)    B/.12,345,678.99
									Paraguay    (Guarani)    Gs12.345.679
									Peru    (Sol)    S/.12,345,678.99
									Philippines    (Philippine Peso)    ₱12,345,678.99
									Poland    (Zloty)    12 345 678,99zł
									Portugal    (Euro)    12 345 678,99€
									Qatar    (Qatari Rial)    ﷼12,345,678.99
									Romania    (Romanian Leu)    12.345.678,99lei
									Russian Federation    (Ruble)    12 345 678,99₽
									Saudi Arabia    (Saudi Riyal)    ﷼12,345,678.99
									Singapore    (Singapore Dollar)    $12,345,678.99
									Slovakia    (Euro)    12 345 678,99€
									Slovenia    (Euro)    12.345.678,99€
									South Africa    (Rand)    R12,345,678.99
									South Africa    (Rand)    R12 345 678,99
									Spain    (Euro)    12.345.678,99€
									Sweden    (Swedish Krona)    12 345 678,99kr
									Switzerland    (Swiss Franc)    CHF12’345’678.99
									Switzerland    (Swiss Franc)    12 345 678.99CHF
									Switzerland    (Swiss Franc)    CHF12’345’678.99
									Syrian Arab Republic    (SYP)    SYP 12,345,679
									Taiwan    (Taiwan Dollar)    NT$12,345,678.99
									Thailand    (Baht)    ฿12,345,678.99
									Trinidad & Tobago    (T/T Dollar)    TT$1,234.99
									Tunisia    (Tunisian Dinar)    TND12,345,678.994
									Turkey    (Turkish Lira)    ₺12.345.678,99
									Ukraine    (Hryvnia)    12 345 678,99₴
									United Arab Emirates    (UAE Dirham)    AED12,345,678.99
									United Kingdom    (GBP)    £12,345,678.99
									United States    (US Dollar)    $12,345,678.99
									Uruguay    (Peso Uruguayo)    $U12.345.678,99
									Uzbekistan    (Uzbekistan Sum)    лв12,345,678.99
									Venezuela    (Bolívar Soberano)    VES12.345.678,99
									Viet Nam    (Dong)    12.345.679₫
									Yemen    (Yemeni Rial)    ﷼12,345,678.99
									Zimbabwe    (ZWL)    ZWL12,345,678.99

								
							



							

								
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Here is the data we took for this mortgage:

• Down Payment: in per cent of the property cost, here we took 50%: this means you are bringing €100.000 of your own money
• Amount of Loan: €100.000, it is calculated but as you guessed, in this case, it is the Property cost €200.000 minus the Down Payment €100.000
• Number of Payments? (#): is the number of months you intend to take to reimburse your mortgage, #120
• Annual Interest Rate?: This is the rate we took: 3.5% for a 10 year mortgage. Check the current mortgage financing conditions in our paper: “The best mortgage rates in Spain in 2020“. Don’t forget that rates are higher for foreigners.
• Points?: This is the upfront charge for the mortgage, we took 1%
• Annual Property Taxes?: We took €300
• Annual Insurance?: We took €150
• Private Mortgage Ins. (PMI)?: We took 0% (this is mostly done in the US)
• Payment Method?: You can choose if you pay at the start of at the end of the month, we took the latest.
• Monthly Payment Amount: The monthly amount you will pay to reimburse the mortgage €988.86
• Down Payment Amount: The amount you will pay yourself to buy the property.€100.000
• Total Interest: The total amount you will reimburse during the life of the mortgage. €18.663.19

In your Schedule of payments, you will find all the information with some details as:

• PMI — private mortgage insurance. Could be required if your loan to value (LTV) is more than 80%. That is, your down payment frequently needs to be 20% or more to avoid PMI.
• Property Taxes — are included in the escrow column on the schedule. Please be sure to enter an annual amount in the calculator.
• Casualty Insurance — is also included in the escrow column on the mortgage schedule. Again, enter an annual amount.
• Points — calculated on the loan amount, they are reported in the first row of the schedule.

All the above are optional. That is, you may set them to 0.

You can run this simulator to know your monthly payments:

1. Click clear and enter values for:
   • Loan Amount
   • Number of Payments
   • Annual Interest Rate
2. Leave “Payment Amount (P & I only)” set to 0.
3. Click either “Calc” or “Payment Schedule” or “Charts” to see the monthly evolution of your mortgage or “Clear” to input your own data

You can use this calculator to answer such questions as:

• How much mortgage can I afford?

Most of the time, banks will give you a mortgage with a monthly reimbursement of maximum 33% of your net income, check our earlier paper “Your definitive guide to your Spanish mortgage” for more on that.

• What is the mortgage payment?

The pricer allows you to have a detailed payment schedule.

• How much money do I need to buy a house?

In general, a quick guess is at least 50% of the value of the property, check the explanation of the calculation for the down payment.

• What is the down payment on a house?

Most of the time, the bank will require a down payment of 30% and in addition to that, you will have to pay the taxes and some costs, take another 15% and eventually some works & refurbishment. So, all in all, you will have to pay at least 45% (if no works and no refurbishment)… a little more if repair works and refurbishment. For more on that, read our paper on “Your definitive guide to your Spanish mortgage”

Do you want a mortgage quote in Spain? We have a very strong partnership with one of the biggest Mortgage broker in Spain. Click on this picture and read more/fill the form for a quote.

For more information on the mortgage pricer, you could want to read the comments from the developer.

Here is our FAQ on Spanish mortgage calulator

Our other resources on that subject

• Your definitive guide to your Spanish mortgage
• The best mortgage rates in Spain in 2021

Looking for a lawyer, fiscal expert, architect, property hunter,… or any expert in Spain? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full team of HTBIS here

The post Your ultimate Spanish mortgage calculator: What is the cost of your Spanish Mortgage? appeared first on How to buy in Spain.

Are distressed sales back to Spain due to Covid-19?

Is 2008 back?

In 2008, there was an overwhelming supply of homes because many homeowners had borrowed 100% of the purchase price, while their mortgage balance was often above the home value. The mortgage foreclosure moratorium then allowed many homeowners to seek short sale options while others simply walked away from their homes.

Banks were left with too many foreclosed homes leading them to desperately sell to clear their books. Today, we are in a much different situation. We had 27.055 bank repossessed properties in Spain in 2019

Unless sellers are in urgent need, most homeowners may decide to not sell their homes until the market recovers.

The Spanish housing market post covid

A lot of supply coming to the market?

The situation will be different depending on:

• Who the owner is (local or foreigner?)?
• What is the financial situation of the owner?
• Where is the property located?

As we wrote in our earlier papers: the taste of buyers will change due to Coronavirus:

Unlike in the 2000s, the housing market in Spain is not oversupplied by empty new build making it less likely that a large swath of vacant properties will crater the home values for homeowners.

So, the quick answer to the question is no!

The current situation is completely different than after the financial crisis:

• The supply and demand situation is not the same: the current real estate market is much more in equilibrium after a nice rebound over the last 6 years
• There is less financial leverage in the system
• Financial institutions are less exposed and better capitalized: Banks’ balance sheets are much stronger
• Properties acquisitions are financed by mortgage for less than 65% of all the transactions
• Real estate prices are increasing since 2014 in Spain and remain reasonable, in terms of price per square meter, in terms of yield for investors
• Rising home values and stricter lending standards have also meant that homeowners are sitting on historically high amounts of home equity.
• The market is not too much ‘oversupplied’ by thousands of properties
• The number of real estate transactions of last year is not excessive vs a few years ago
• Real estate developers are more prudent with their developments and are stronger financially: The promoters are not over-leveraged
• Mortgages financing is less aggressive: only 14% of them have a value higher than 80% of the price of the property and on average, they have a loan to value of 65%.

Don’t misunderstand us:

Prices should decrease and opportunities should be easier to spot than in 2019

We think that the economic situation will have a big impact: this is the main point to keep in mind to know if we will get a recovery.

A backlog of bank properties remain on the market in Spain

We found at least one institutional buying bank properties in Spain for more than 10 years… Here is our article on that: “Are bank properties in Spain a nice investment opportunity?”

How to proceed as a foreigner and benefit from the Spanish real estate opportunities?

Don’t miss our easy to read guide, you will learn as well what are “The ideal Spanish property for foreigners in a post-Covid-19 world“

Buying a property in Spain? Benefit from the opportunities!

How to find a bank repossessed property in Spain?

Don’t miss our last articles on that subject: we give you all the bank websites:

• Spanish bank repossessions: Your ultimate guide to 120.000 properties
• The last bargain on the Costa Blanca? 12.000€ for a Spanish Bank repossession

Don’t forget that as those properties are from bank: you have to pay attention to the legal and technical due diligence. Don’t worry our local partners are there for help if needed.

This concludes our report on: Are distressed sales back to Spain due to Covid-19?

To end our series on the impact of the Coronavirus on the Spanish real estate, we will cover those topics:

• Financing conditions update in a post-Covid-19 world

Last but not least, don’t miss the core of our research: our in-depth analysis of the Spanish Housing Market post-Covid-19.

Don’t neglect the basic recommendations to keep yourself and others safe:

• • 2. 2. 1. 1. 1. 1. • maintaining a social distance of 2 m,
                      • regular hand washing,
                      • cover your mouth when you cough or sneeze,
                      • avoid touching your face after touching hard surfaces where the virus can live.

Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

The post Are distressed sales back to Spain due to Covid-19? appeared first on How to buy in Spain.

27.055 bank repossessed properties in Spain in 2019

This is a very good news for the real estate sector in general and for the property owners in Spain in particular.

Will this situation change in 2020 due to the Coronavirus and its impacts on the Spanish real estate?

The annual rate of housing foreclosures in Spain is 0.05%

The total number of registrations for foreclosure on dwellings initiated in 2019 was 7.129 houses -21% vs 2018. We talk about properties owned by private person only. If we talk about housings in general, the number is 27.055 foreclosed properties during 2019.

This is what the Instituto Nacional de Estadistica just published in its report.

3% increase vs 2018

For 2019, 0.1% of all the properties existing in Spain. According to the census, there are 25m properties in Spain, follow the link and check our table on that.

Look at the evolution of foreclosure over the last 4 years.

It is an impressive 4 year in a row decrease since 2014: -5% in 2018, -33% in 2017, -31% in 2016and -15% in 2015.

Mortgage default rates according to their initiation dates

As you can see on this chart, 24% of mortgages that defaulted in 2019 were initiated in 2007. 50% of the defaults in 2019 were mortgages initiated between 2005 and 2008. Why? The prices where much higher before 2008 and leverage was bigger just before the crisis.

As you can see on our chart, prices were much higher at that time: €2.100 vs €1.653 now (December 2019).

Which years have the most defaults vs the number of issued mortgages?

Most impacted regions during 2019

Regions with the highest foreclosure rates for housing are:

• Catalonia, 5757 properties bank repossessed properties
• Andalusia, 5681 housing were foreclosed in 2019
• The Valencian community, 5356 properties foreclosed

Are bank repossessed properties back to Spain?

Foreigners active in the same regions

It could represent a nice opportunity for foreigners as they are active in all those regions. As a reminder, foreigners bought 16% of all transactions during the last year.

Click on the image and get our last report analyzing where foreigners are buying real estate in Spain in.

Why is the number of bank repossessed properties decreasing?

The three main reasons are:

• The economy in Spain is stronger: GDP growth above 2% and one of the highest in Spain, see the sixth “must see chart on the Spanish real estate” comparing the Spanish growth rate with all its EU counterparts. Going in Sync with higher growth, you have a decrease in the unemployment rate as you can see in our table with the economic statistics of Spain. You can read our paper on that: Spanish GDP growth to remain strong up to 2021
• Financing rates are very low: check our table on mortgage and financing rates in Spain or read our article on the best financing conditions in Spain.
• A final reason was explained above: about 50% of the foreclosures are mortgages that were initiated in 2006, 2007 or 2008. Right now, we are 10 years later and so people could adjust in the meantime on one side and on the other side, as prices are much lower, people are taking a much more “calculated” risk.

Will the number of bank properties rise due to the Coronavirus?

We expect the number of bank repossessed properties to rise in 2020 due to the Coronavirus and due to the economic situation deteriorating.

We shouldn’t have the same situation as we had in 2008 for many reasons:

• The situation is much more stable: less leverage with banks, less leverage with promoters, lower prices and correct if you compare with international cities
• We should pay attention to the economic situation for the next 2 years and of course keep a close eye on the Coronavirus situation and its impacts on travel.
• Another positive: the low financing rates that should continue to help buyers.

Do you want to find bank repossessions in Spain right now?

Do you want to have a look at properties repossessed by Spanish banks? Have a look at our article, one of the most read of our site, on that subject: Spanish bank repossessions: Your ultimate guide to 120.000 properties.

If you are looking at buying a property on the Costa Blanca, this is our most recent paper: The last bargain on the Costa Blanca? 12.000€ for a Spanish Bank repossession

Are you looking for a competitive rate for your mortgage in Spain?

Get the best mortgage rate in Spain

Here was the update of the last quarter of 2018

The annual rate of housing foreclosures in Spain is 0.05%
The total number of registrations for foreclosure on dwellings initiated in the third quarter of 2018 was 1.551 houses vs 2.181 in the same quarter of 2017 and 4.696 in 2016. We talk about properties owned by private person only. If we had to talk about housings in general, the number is 7.182 foreclosed properties during the quarter.

29% decrease vs 2017
For 2017, 27.171 properties were foreclosed, (housing and others) i.e. 0.1% of all the properties existing in Spain. According to the census, there are 25m properties in Spain, follow the link and check our table on that.

Default rate by initiation date
The default rate is the highest and represents about 50% of all defaults for the mortgages initiated between 2005 and 2008… when the prices where at the top… and just before the crisis.

Regions with the highest foreclosure rates for housing are:

• La Rioja, 0.26% of all existing properties, 121 housing during the quarter
• The Valencian community, 0.16% of all existing properties, 1.696 housing during the quarter
• Castilla y Leon, 0.14% of all existing properties, 228 housing during the quarter

Here was the update of the last quarter of 2017

• The annual rate of foreclosure in Spain is 0.1%

The total number of registrations for foreclosure on dwellings initiated in the fourth quarter of 2017 was 2.103 houses vs 4.696 in the same quarter of 2016.

That is what the Instituto Nacional de Estadistica said in its last report.

• 34.2% decrease for 2017

For 2017, 27.171 properties were foreclosed, i.e. 0.1% of all the properties existing in Spain. According to the census, there are 25m properties in Spain, follow the link and check our table on that.

This is a nice decrease of 34.2% vs the numbers of 2016.

Look at the evolution of foreclosure over the last 4 years.

It is an impressive 3 year in a row decrease since 2014: -34% in 2017, -31% in 2016, -15% in 2015.

• Default rate by initiation date

The default rate is the highest and represents about 50% of all defaults for the properties acquired in 2006, 2007 and 2008.

Regions with the highest foreclosure rates for housing are:

• The region of Murcia 0.43%, 3.252 units
• Andalusia 0.42%, 13.644 units
• Valencian community 0.42%, 10.212 units

Who is buying those bank properties in Spain?

We found at least one institutional buying bank properties in Spain for more than 10 years… Here is our article on that: “Are bank properties in Spain a nice investment opportunity?”

Check the full press release in Spanish.

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

The post 27.055 bank repossessed properties in Spain in 2019 appeared first on How to buy in Spain.

Are there any Spanish bank repossessions left on the Costa Blanca?

Last year we wrote our article on the bank repossessions in Spain: Spanish bank repossessions: Your ultimate guide to 120.000 repossessed properties. Many foreigners started to check the Spanish real estate market since the crisis of 2008. Of course, prices are rising and currently are at 1.590€ per square meter but we wanted to check ten year after the crisis if there were any bank repossessions left on the Costa Blanca. We did the work for you.

We did the search for the Costa Blanca as, with the region of Murcia, the region of Alicante remains one of the cheapest where you can find sun 320 days per year, check here the monthly weather statistics for any Spanish, while being close to the sea. If you want to compare the prices of the different regions, have a look at our quarterly report: The Spanish property market: our detailed analysis of the top 20 markets!

Before starting, remember, the Spanish government helped to clean the situation arising from the crisis, thanks to pooling “bad assets” – understand, assets for which the mortgage was worth more than the property value.

Where can you find bank properties? First, you can find those at all the major Spanish banks. Second, you can find those at the Sareb. Sareb was created to manage the assets from many Spanish Banks.

What have we found?

We found many properties listed under 50.000€… even some under 20.000€ listed on all the Spanish bank portals publishing the bank repossessions.

In total, we found:

• more than 4.500 properties
• more than 1.400 plot of land
• more than 3.500 properties listed for less than 150.000€

Why buy a Spanish bank property?

Better financing conditions

• Aggressive price as the bank wants to take it off its balance sheet. This was true after the crisis, now we note that the banks are more and more greedy on one hand, on the other hand, bank sold from time to time all their portfolio of properties in one go.
• More lending: one of the big advantages is that you can get a bigger loan … up to 100% of the Value of the property. In general, foreigners would have difficult to get more than 70%. For more information about mortgages, read our most read article: Your definitive guide to your Spanish Mortgage: How to apply? How to get the best rates? or alternatively Have a quick look at our Spanish mortgage calculator to know your buying power.

We developed a detailed mortgage calculator: Payment schedule, monthly payments,…

• Better financing conditions: Find the current mortgage conditions in our last paper: What are the best Mortgage rates in Spain?

What is the current situation on Spanish foreclosures?

Why are there so many bank repossessions properties in Spain?

As you can see from our table “Returns and mortgages in Spain“, there are about 25 million properties in Spain. Before the crisis of 2008, about 0.8 million properties were sold per year in Spain.

In 2016, 456.000 properties were sold and 73.000 were foreclosed, i.e. less than 0.3% of the properties in Spain.

For 2017, 27.171 properties were foreclosed, (housing and others) i.e. 0.1% of all the properties existing in Spain.

In 2018, the number of foreclosed properties is strongly lower than in 2017.

It is very good news that the current economic situation in Spain is improving as you could read in our article we wrote earlier this month: Spanish GDP growth to remain strong up to 2021.

Look at the evolution of foreclosure in Spain in our earlier article.

Is it a good time to buy a bank repossessed property in Spain?

Most of the bank foreclosed properties will be off the market very soon. They were one of the main driving force for Spanish property prices to go down (with the economic situation and the fact that banks were lending less heavily). Right now, all those three forces are going in the opposite direction: we have fewer properties on the market, we have a nice economic activity and Spanish bank are lending more aggressively: What are the best Mortgage rates in Spain?

Last but not least, real estate prices are rising in Spain: check the chart of real estate price evolution before and after 2007:

We found an institutional investor buying bank repossessions in Spain for more than 10 years, so, we guess that it is not such a bad deal to buy bank properties.

Which regions have the highest foreclosure rate in Spain?

• Region of Murcia
• Andalusia
• Valencian community (of which the Costa Blanca)

Our Tips before buying a bank property:

• Don’t dream, if they are on the market, there could be a reason, be cautious.
• Read our useful paper on this: Our top 10 pieces of advice for buying your property in Spain
• Always hire a lawyer to check the situation of the property and to clear any legal hurdle. Find your property lawyer or tax adviser anywhere in Spain
• Technical check with an architect or property surveyor? Those properties could be old or new but unfinished or empty for a while… this means a lot of surprises.
• How to pay in £,$,¥ Pounds, Dollars, Francs, Yuan for my Spanish property?
• Study properties in the neighbourhood in order to make the perfect offer for the bank.
• Location not always terrific: pay attention to the location.
• Submit a bid directly to the branch manager, even better if you are a customer.
• Ask the local branch manager if they are properties not listed online.
• Have a look at all our best partners’ deals in Spain: we have the connections with local lawyers working for foreigners in many languages in all the Spanish regions and we have other interesting contacts in our network.

Your easy guide to help you find your foreclosed property in the Costa Blanca

How have we sorted the properties?

In order to help your Search, we have created a table with direct links towards those portals.

You will learn:

• How many residential properties are listed for each portal on the Costa Blanca? In total, we found more than 4.500 properties.
• How many properties are listed under €150.000 on the Costa Blanca?
• How many plot of lands are listed for sale on the Costa Blanca?

Of course, if you are looking for garage, trastero, offices or industrial properties, you can find those as well.

At the end of this section, you will find our exclusive table (easier to read on a computer, difficult to fit so many data in a readable table for mobile users, sorry) regrouping all the Spanish bank websites with the repossessed properties.

Our tip: As you know, some banks are more active than others in some regions. Always try to know which one you should check for your region… a small local bank could be much better than a large national bank for finding your dream property in a certain region.

Residential properties and Land repossessed on the Costa Blanca

The three real estate bank portals with the most Residential properties for sale in the Costa Blanca are:

1. Haya Real Estate: Haya Real Estate is the portal of Bankia. Bankia is the result of a merger of six smaller banks. They have more than 1.200 repossessed residential properties listed for the Costa Blanca.
2. Servihabitat: Servihabitat is the portal from “la Caixa Bank”. CaixaBank is the leading retail bank in Spain, with the largest customer base. They have more than 600 repossessed residential properties in the Costa Blanca.
3. Sareb: Sareb is a company created to manage assets from many Spanish banks. As of June 2017, the portfolio of Sareb has 39 billion euros, of which 30% is real estate. They have more than 500 repossessed residential properties on the Costa Blanca.
4. Altamirainmuebles: Altamirainmuebles is the real estate portal of Banco Santander, the largest bank in Spain. They have more than 500 bank repossessed homes on the Costa Blanca

Find more residential bank repossessions on our exhaustive table of all the Spanish bank web portals at the end of this article.

Land Bank repossessions in the Costa Blanca region:

The four real estate bank portals with the most plots for sale are:

1. Altamirainmuebles: Altamirainmuebles is the real estate portal of Banco Santander, the largest bank in Spain. They have more than 500 bank repossessed plot of land on the Costa Blanca
2. Sareb: Sareb is a company created to manage assets from many Spanish banks. As of June 2017, the portfolio of Sareb has 39 billion euros, of which 30% is real estate. They have more than 270 repossessed plot of land on the Costa Blanca.
3. Haya Real Estate: Haya Real Estate is the portal of Bankia. Bankia is the result of a merger of six smaller banks. They have more than 200 repossessed plot of land listed for the Costa Blanca.
4. Servihabitat: Servihabitat is the portal from “la Caixa Bank”. CaixaBank is the leading retail bank in Spain, with the largest customer base. They have more than 180 plot of land on the Costa Blanca.

Find more plot of land from bank repossessions on our exhaustive table of all the Spanish bank web portals at the end of this article.

Another good place to check is the official Spanish State portal for auctions (in Spanish)

From time to time, the Spanish State has to sell properties to recoup taxes or other, you have a list of properties per region:

The official Spanish State portal for auctions

Our full updated list of the Spanish bank real estate portals with bank repossessions

Move with right or left arrows to see all the data of this table

If you want you can find those Spanish bank real estate web portals on our web page regrouping all the real estate websites of the Spanish banks.

Last but not least, if you are about to buy in Spain, read our two very useful articles:

The cost of buying a property in Spain: What is the real cost of buying your Spanish Property?

The cost of owning a property in Spain: What is the real cost of owning your Spanish property?

Remember, the risks are higher if you buy a bank property from a bank. In Spain, furthermore, we would always advise you to work with a lawyer when you buy a property. He will make sure everything is fine. We developed privileged relationships with local lawyers very active with foreigners, Find your property lawyer or tax adviser anywhere in Spain

Before buying in any region, have a quick look at all our research on the top 20 Spanish Cities: Everything you ever wanted to know about the top 20 Spanish Cities real estate markets

Looking for an expert in Spain: Lawyer, Architect, Property Hunter, Mortgage? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full HTBIS team here

The post The last bank repossessions on the Costa Blanca? 12.000€ only? appeared first on How to buy in Spain.

How to protect yourself against Hidden defects on a Spanish Property? Why a property survey could be useful?

The legal analysis from our local partner Juan Carlos, covering the Valencian Community

In the property buying process in Spain, it is very important to take into account the responsibilities assumed by sellers and builders. Hidden defects could come from instance from construction defects that have not been detected before the sale.

What are the rights and obligations of the sellers, the builders, as well as the buyers who acquire properties in Spain?

That is the objective of this paper: clarify the concepts and the procedures linked to visual and hidden defects.

First, let’s identify what we understand by “defects”

We understand by defects or more precisely construction defects any type of deficiency that we find in a construction and that reduces its quality. This defect must result in such a way that the owner cannot enjoy and use the property in a normal way.

Here is the definition provided by businessdictionary.com for a latent defect: target=”_blank” rel=”noopener noreferrer”>Hidden defect in material and/or workmanship of an item which may cause failure or malfunction, but is not discoverable through general inspection. Also called a hidden defect.

In addition, we can identify that a construction defect can be considered as “serious” or “grave” in the event that, if the buyer had discovered it before the sale, he would have rejected the purchase, or would have at least renegotiated the price with the seller.

There are two types of defects: Visible and Hidden

Visible defects are those that are easily detectable by means of a visual inspection, either in the construction process of the building or through a visual inspection by the buyer. That is, they are easily detectable by anyone without building knowledge or preparation.

These visible defects are not the responsibility of the seller.
Therefore, the seller has no responsibility for visible defects that could have been discovered in this way by the buyer, especially if they do not affect or vary the price of the property.

Hidden defects, for instance, are those that have not been possible to detect by the construction process, because they are not easily visible. In the case of new constructions, these defects have not been detected by the different professionals, such as architects, inspectors, etc. during the construction process.

Not all defects can create responsibilities

For this to be the case, the effect must meet these conditions:

1. That it was not easily detectable
2. That the buyer did not know about it
3. That it existed before finalizing the purchase

As an example, we are going to list which are the most repeated hidden defects in the casuistry:

• Damages that affect the structure of the building. These are work defects that substantially affect the stability and structure of the building.
• Problems of leaks, waterproofing, which cause leaks in the house.
• Problems of the settlement of the building. Once a building is constructed, it can present some cracks, fissures, etc that appear due to a bad settlement of the building, and produced by a bad basement.

Responsibilities

When considering responsibility for hidden defects, it is necessary to distinguish between newbuild houses and home for resale.

The case of newbuild homes

the guarantee and the right of the buyer to claim for hidden defects are divided into three types:

1. A one year guarantee:
   This is the case for problems in finishing as interior pavements, exteriors, carpentry, new appliances, etc. It is one year starting from the date of the construction, or six months from the date of purchase/completion.
2. A three-year guarantee:
   For defects produced at the property and that directly affect and degrade their habitability In this case, it is a matter of problems that affect hygiene, health, health, water tightness, healthiness, etc.
3. The decennial liability as in many other countries:
   covering problems that affect the structure of the building such as the foundation, pillars, beams, floors, etc… These defects must be such that they must compromise the stability of the building.
   Interesting to know: For newly built properties, it is mandatory in Spain for promoters to have a decennial insurance.
4. The decennial liability with the specific case of Self-promotion:

If you are building your own property as a “Self-promoter” or “Autopromocion” in Spanish, this insurance is not mandatory but voluntary.

A construction is in self-promotion when the final consumer of the building is the same owner of the plot and hires the builder only for the purpose of building the house. In this way, the owner of the plot assumes the position of “promoter” of the works, and he is the one that performs the hiring of different professionals such as architects, builders, etc. If the owner decides to sell the property during the guarantee period of 10 years, he must inform the eventual buyers that the house does not have such insurance, and the buyers must expressly accept this situation.

The case of home resales

Do sellers have any responsibility for hidden defects?
The answer is affirmative.
Sellers who sell resale homes are also responsible for hidden defects that these properties may have.
This responsibility is about the hidden defects that exist in the property and that, during six months, the seller will be responsible for any type of the defects mentioned above, and that could be detected before within six months.

The buyer may exercise his right to claim responsibility for hidden defects if those three conditions are met:
1. The defect must be detected.
2. The seller must be notified in writing: usually by certified mail, making him aware of the defects, explaining what the causes may be, and what could be the solution to repair the problem.
3. In the event that the seller does not recognise his responsibility, the buyer must obtain a written report from an independent professional, if possible an expert, who determines the problem, the defect, and which are the repair costs in an official report.
If the seller, received the report and does not take charge of the issue, then the buyer must be advised by a lawyer in order to see what are the legal ways that exist to solve the problem.

In conclusion

Usually, tribunal claims derived from hidden defects of small consideration are expensive and long. Therefore, always advisable to try to reach an out-of-court settlement with the seller.

For serious cases, in which there is a real problem that affects the habitability, or the structure of the building, it will be necessary to defend the position of the buyer in the best possible way, always considering the possibility of going to Courts if not finding an agreement with the seller.

Read the paper Juan Carlos wrote on a related subject: What should you pay attention to when buying a property in Spain?

Check our three infographics with useful tips if you are considering buying a property in Spain:
Our top 10 pieces of advice for buying your property in Spain
The 8 legal steps to your Spanish Property
Top 8 tips for not wasting money when you buy in Spain

This article is written by one of our independent partners in Spain, Juan Carlos, who is one of our Lawyer in the region of Alicante. Check his profile.

Do you want to get in touch with him? Ask us for an introduction and benefit from the power of our network.

Juan Carlos

Looking for a real estate lawyer in Spain? Follow the link and get one of our local lawyer.

Looking for another real estate expert in Spain: Mortgage, Insurance, Survey of property, Property hunting, …? Ask us directly one of our 100+ local partner!

The post How to protect yourself against Hidden defects on a Spanish Property? Property survey in Spain appeared first on How to buy in Spain.

Sareb launches a new edition of its “Casas de Estreno” campaign and put 3716 properties on the market

The campaign data are the following:

• They will sell 3716
• It will last 3 months
• Properties are: Apartments & single-family homes
• It is spread over 16 autonomous communities: Andalusia, Aragon, Asturias, Baleares, Canarias, Cantabria, Castilla y León, Castilla-La Mancha, Catalonia, Comunidad de Madrid, Comunidad Valenciana, Extremadura, Galicia, La Rioja, Murcia and Navarra.
• 650 properties located in the Mediterranean arc
• Prices will range from 17,700 euros for a flat in Sayago (Zamora) to 394,417 euros for a 220 square meter villa in Das (Girona).

Distribution in the regions with the highest concentration of assets:

• the Region of Valencia is the region with the largest offer, with 816 units for sale. Alicante is the first region by the number of assets in the Community (359) and also hosts the cheapest in this community: a promotion of four tourist apartments in Mutxamel, each available for 26,300 euros.
• Castilla-La Mancha is the second region by a number of assets on sale this campaign.Of the 666 units offered, half are located in Toledo. The most economic price of this region is in Burujón (Toledo) and corresponds to a floor of 63 square meters.
• Andalusia contributes 537 homes to the commercial initiative of Sareb.Almería is the province that has a greater offer (201). It is also where the most economic asset of the region is found. A promotion of El Ejido has a floor of 62 square meters and a room, which goes to the market for 30,000 euros.
• In Castilla y León are located 474 homes.Half of the offer is concentrated in Valladolid, due to a large promotion in Arroyo de la Encomienda. Meanwhile, in Sayago, Zamora province, the cheapest apartment of the entire campaign (17,700 euros) is located.
• Murcia has an offer of 244 homes, with prices ranging from 33,000 euros for a flat in Torre Pacheco to 269,000 euros for a home in Murcia capital.
• Of the total of 227 homes that go on sale in Galicia, 80% are distributed between A Coruña and Pontevedra.
• The provinces of Gerona, Barcelona and Tarragona are almost equally distributed almost all of the 168 assets located in Catalonia that enter the Sareb campaign.
• Cantabria has 141 homes priced between 50,500 euros for a one-bedroom apartment in the municipality of Solares and about 316,897 euros for a three-family single-family residence in Ribamontán al Mar.
• Badajoz concentrates most of the 100 homes that go on sale in Extremadura, due to the completion of major developments in the city of Badajoz, Alange and Mérida.
• Of the 66 homes that go to the market in Madrid, the most economical is an apartment in Villalbilla that reaches a price of 58,000 euros.The most expensive is a four-storey townhouse in Colmenar Viejo, which is marketed for 339,006 euros.
• In Aragon, there are 90 homes for sale, of which two-thirds are concentrated in a single residential development in Calatayud (Zaragoza), which also offers the most economical price of assets traded in the region: 67,300 euros for a two-room flat.
• The cheapest housing of the 81 that go on sale in La Rioja is a flat of 44 square meters in Villamediana de Iregua, which is priced at 32,068 euros.The most expensive is a three bedroom apartment in Calahorra, for 171,300 euros.
• A flat of 43 square meters in Oviedo – whose price stands at 65,800 euros – is located as the most economical housing of the 65 that are located in Asturias.On the other side, there are single-family houses in the municipality of Noriega with a price of 242,000 euros.
• Almost all the homes that go to the market in the Canary Islands (28) are in a promotion of San Nicolás de Tolentino (Las Palmas), whose prices range from 33,000 to 80,000 euros.In Santa Cruz de Tenerife you can find 11 apartments, among which is the most expensive asset of those that go on sale in the Islands: 100,000 euros for a two bedroom apartment in the Las Rosas – Las Galletas area.

The details of all the houses included in the commercial initiative are available at www.SarebCasasDeEstreno.es. In this website, it is possible to consult the characteristics of each asset, its location and how to obtain more information.

The sale of the properties is carried out through Altamira Asset Management, Haya Real Estate, Servihabitat and Solvia, the four servicers in charge of management and commercialization of the assets of Sareb.

Have a look at our post listing all the bank portals listing bank properties for sale in Spain and here is our page of all those Spanish real estate bank portals.

Don’t forget, another big positive with those properties are that most of the time you can have a mortgage up to 100% of the value! Not bad.

For financial investors, here is how you could invest on Spanish bank repossessions without buying any yourself: “Are Spanish bank repossessions a good investment opportunity?”

Read the full press release in Spanish here.

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full HTBIS team here

The post Sareb launches a new “Casas de estreno” campaign with 3716 properties on the market appeared first on How to buy in Spain.

In less than six months, this news is one of our top read news, we got more than 3.000 readers very quickly!

If you are looking for a property on the Costa Blanca, here is or more recent paper: The last bargain on the Costa Blanca? 12.000€ for a Spanish Bank repossession

Have a look at another paper we wrote on the same subject: Where will you find the Bank repossessions in Spain? It will help you to find residential properties, plots of lands, offices and industrial properties.

For financial investors, here is how you could invest on Spanish bank repossessions without buying any yourself: “Are Spanish bank repossessions a good investment opportunity?”

So we did the work for you, we regrouped all the Spanish bank portals with a lot of bargains.

Before looking at the list, have a look at our main paper studying the top 20 property markets in Spain:

Everything you ever wanted to know about the top 20 Spanish Cities real estate markets

Here is the list of all the portals selling bank properties in Spain

• Alisedainmobiliaria is the portal of the fifth biggest bank in Spain, Banco Popular (Santander Group now). The group sold more than 10.000 properties in 2016 for more than €1 860 m.
• Altamirainmuebles is the portal of Banco Santander, the largest bank in Spain. The group as more than €50bn of assets. You can find all the properties with a map, very useful. Many properties all over Spain.
• Bankinter is the sixth biggest bank in Spain.
• BBVA Vivienda or Anida, is the portal of BBVA Vivienda, the real estate subsidiary of Banco Bilbao Vizcaya Argentaria. BBVA is the second biggest bank of Spain. About 6.000 properties, mostly land, commercial properties and offices.
• Cajamar properties are managed by Haya Real Estate, the portal of Bankia. Bankia is the result of a merger of four smaller banks.
• Cajasur inmobiliaria is a subsidiary of Bilbao Biskaia Kutxa (BBK) en Aurrezki Kutxa eta Bahitetxea. It has properties from Andalusia to Costa Blanca.
• Casaktua is the portal of Banco Banesto, the 3rd biggest bank in Spain. In 1997, Banco Santander bought the majority of this bank. In 2016, Aktua was acquired by Lindorff, European player active in Credit management.
• Grupo Ibercaja is the 8th bank in Spain
• Haya Real Estate is the portal of Bankia. Bankia is the result of a merger of four smaller banks.
• Kutxabank inmobiliaria is a Bank created in 2012 from the merger of 3 “Cajas” in the Basque Country.
• Liberbank properties are managed by Haya Real Estate, the portal of Bankia. Bankia is the result of a merger of four smaller banks.
• Sareb, as of June 2017, has a portfolio of 39 billion euros, of which 30% is real estate. It received almost 200,000 assets, which were valued at 50 billion euros in two phases. The main tranche was transferred on 31 December 2012 from the four nationalised banks: Bankia, Catalunya Banc, Banco de Valencia and NCG-Banco Gallego. The second transfer was contributed by the four banks that received State funding: Liderbank, BMN, Caja3 and Banco CEISS. Out of all of the assets, 80% are loans and 20% are properties. Sareb’s mission is to divest assets over a period of 15 years while optimising the value of its portfolio. Sareb has a very useful site and you can search on the map very easily by defining your own specific area of search.
• Servihabitat is the portal from “la Caixa Bank”.
• Solvia is the portal from Banco Sabadell. It’s the fourth biggest bank in Spain.
• Unicaja inmuebles is based in Málaga, it is a subsidiary of Unicaja which has a clear leading position in its home regions of Andalusia and Castilla y León.

We regrouped all those portals in our “useful links” section: Properties for sale by Spanish banks.

If you want to search on a map, Altamira, one of the biggest player did the work: map of Altamira properties in Spain.

Idealista, the biggest portal of real estate in Spain, lists 30 000 properties of Sareb and 16 000 properties for Altamira.

Another good news for those properties is that from time to time you can get up to 100% mortgage (vs the more standard 70%) at very good rates! So now that you found your bank property, have a look at how to negociate the best rates with your Spanish bank 😉 Your Spanish Mortgage: How to apply? How to get the best rates?

So, why not have a look?

If you want other interesting sources for Spanish bank properties for sale, go to our web page regrouping all the real estate websites of the Spanish banks.

Last but not least, if you are about to buy in Spain, read our two very useful articles:

The cost of buying a property in Spain: What is the real cost of buying your Spanish Property?

The cost of owning a property in Spain: What is the real cost of owning your Spanish property?

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Looking for a second home? Check our infographic on the second home buyers in Europe:

1. Who are the second home buyers in Europe?
2. Why they want a second home?
3. What are the criteria’s for the ideal home?

Find all our news here

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Looking for an expert in Spain? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full HTBIS team here

The post Where are the Spanish bank properties for sale? appeared first on How to buy in Spain.