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Sareb Puts Its First 700 Finished Homes Up For Sale

7 October 2016 – Expansión

Sareb has put the first 700 homes on the market that it has now completed after it acquired unfinished properties from various nationalised banking institutions when it was created.

According to a statement published yesterday by the entity, 34 developments are being sold in total, containing 700 homes, whose prices will range from €32,000 for the cheapest to €390,000 for the most expensive.

The homes finished by Sareb are located in nine autonomous regions: Asturias, Cantabria, Castilla-La Mancha, Castilla y León, Cataluña, Comunidad Valenciana, Galicia, La Rioja and La Comunidad de Madrid.

These properties, together with another 1,300 newly built homes, form part of the “Casas de Estreno” campaign launched by Sareb, which explained that the managers that support the company (Altamira Asset Management, Haya Real Estate, Servihabitat and Solvia) will be responsible for marketing all of these assets.

Strategy

Information about the homes can be found on the website www.sarebcasasdeestreno.es. It contains the basic details of each home along with photos.

“The completion of the unfinished construction work, in places where there is demand, forms part of Sareb’s strategy to maximise the value of the assets it received and fulfil its divestment mandate in the most efficient way” said the Director of Direct Management at Sareb, Juan Dios.

The region with the most homes for sale in this new portfolio is Cataluña, which accounts for almost 200 homes. The majority, 114, are located in Barcelona. There are also lots of flats for sale in the Community of Valencia, where Sareb has completed seven developments containing 170 homes, of which 108 are located in the province of Valencia.

In Asturias, the company has completed a development containing 112 homes and in Castilla y León, it will put almost 100 homes up for sale in the province of Cuidad Real.

Original story: Expansión

Translation: Carmel Drake