Banco Sabadell Sells 16.000 Properties in 2013 for 3.000 Million Euros

Banco Sabadell has gone beyond its dreams and sold 16.000 properties in 2013, for about 3.000 millon Euros, juxtaposed with the 13.777 units sold a year before, for 2.316 millon Euros. The 2013 target was set at the sale of 16.000 properties (17% more than in 2012) for amount of 2.600 millon Euros (+16%).

This is the news brought about by the bank´s chairman, Josep Oliu, at the Sabadell´s Chamber for Commerce and Industry meeting in Barcelona. Oliu believes the housing prices have “hit the bottom”. (…).

He also highlighted that thanks to Solvia, the entity managed to consolidate the structure of its assets. The real estate branch commercialized over 26.600 properties within last 3 years.

Oliu estimates that the housing stock of Banco Sabadell is worth about 18.000 million Euros. The company will invest 150 million Euros in construction of 1.182 dwellings in the places where the price rebound has been observed in Spain.

Source: Cinco Días

Translation: AURA REE