Bankia Slashes Prices by 50% & Lists 5.000 Foreclosed Homes at Less Than €80.000 Each

27/11/2014 – Expansion

Bankia has just put up for grabs a selection of 5.000 dwellings across Spain at prices slashed by 50% and asking for less than €80.000 per unit.

The new campaign, including 6.000 properties in total, will be valid until December 31st.

Called the ‘Year-End Apartherapy’ (‘Pisoterapia fin del año‘), the offer may be consulted in Bankia branches network, as well as on the web of Haya Real Estate (, Spain’s leader in property management services that also trades REO assets of Bankia.

The property package is 100% made up from resales, of diverse type and representing both urban and coastal units, and including all large regional capitals, bedroom towns and little villages.

By regions, the Valencian Community concentrates 1.906 properties, followed by Catalonia (1.400), Andalusia (793) and Madrid (598).

Among the listed REO supply, one may find such gems as a two-bed, two-bath dwelling on the Barraca street in Valencia city which asks €80.000, half of its original value (€160.000).

In the province of Valencia, noteworthy are the following: a four-bedroom unit at a price trimmed from €145.400 to €80.000 in Torrent, a three-bed apartment in Pobla de Vallbona which now stands at €72.000 from previous list price of €114.200, or the one in Gandia, with three bedrooms and two bathrooms available from €52.500 and not €85.500 like before.

Alicante as a province offers, for example, a two-bed apartment in Algorfa priced €41.000, and €55.900 prior to the cut.

Skimming through Bankia’s bargains in Catalonia, a single-bed, two-bath duplex in Canet de Mar (Barcelona) certainly calls one’s attention as its current, €74.000 price is much more affordable than the previous list of €119.900.

Further on, also a detached, two-bed home in Castellet i la Gornal (Barcelona) costs significantly less as its asking price has shrank from €100.000 to €69.000.

In sun-drenched Andalusia, a three-bedroom dwelling in the city of Estepona (Malaga) worth €92.000 is available for €50.000 until December 31st.

In Madrid-nearby Fuenlabrada one may acquire a three-bedroom apartment whose price was slashed from €106.000 down to €80.000.


Original article: Expansión 

Translation: AURA REE