The 'bad bank' also makes cuts

25/11/2016

This year there are also sales season in the property market. The Society of Management Assets from Bank Restructuring (SAREB), known as' bad bank ', announced the campaign runs by your home', which sells more than 1,500 properties in all over Spain with discounts up to 30%.

The 'bad bank' was created in 2012 bringing together the toxic assets that the four companies nationalized were transferred there, and is involved in 55% private capital and 45% for public capital in the hands of the FROB Fund Orderly Bank restructuring. The SAREB has 15 years to divest all of its assets. So the company has announced that sales campaign that sells all sorts of properties all over Spain, but mainly in the Mediterranean, with discounts up to 30%.
Most assets are in Valencia, where it is offered for sale under this promotion a total of 518 apartments. Follow Catalonia 240 houses, 123 Murcia, Andalusia and the Balearic Islands with 115 to 21. The remaining assets are distributed to the rest of Spain. The price ranges from 13,950 euros for 41 square meters of housing in Aragon and 465,461 euros for an apartment of 165 square meters and three floors in the historical center of Valencia. Are marketed through four agencies that regularly uses the SAREB.
In both processes transfer of assets between 2012 and 2013, the SAREB received a total of 200,000 and 400,000 financial assets and collateral, valued at a total of 50,781 million euros. At the end of 2015, the 'bad bank' had assets worth 42,991 million euros, nearly 81,000 of property and nearly 105,500 of financiers.