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Leading Property Group Spain > Blog > Property News > Bank owned properties: expensive and unattractive.

Bank owned properties: expensive and unattractive.

Bank of Spain
Bank of Spain
Bank of Spain

Looking at the websites or printed guides of properties for sale that banks publish through their marketing companies, the conclusion reached is that they are still offering nothing particularly interesting.

Its only attraction is the financing that the bank itself offers customers, which can sometimes reach 100% of the purchase or even cover the purchasing costs such as obtaining the title deeds. A trap for many buyers is that they can confuse a good buy with good funding but return us to recent times where their greed for business and financial income were hidden in their results favouring new “toxic assets”.

Bankers must make an even more, significant and widespread reduction in the price of their properties if they really want to vent their stock of property, which in turn is hampering the sector’s recovery in construction and related industries, a traditional engine for the Spanish economy.


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