Bankia speeds up the sale of properties and plot exchanged for non-payment.

Bankia Habitat, the real estate company within the nationalized group BFA-Bankia, has sold more than 14600 properties in 2012, disinvestments which include plots, developments and developers´ assumptions, obtaining an income of more than 1600 million Euros, according to a statement made by the company. Within this broad package of properties, it has speeded up the sale of awarded properties, which are the ones it retained in exchange for unpaid mortgages.

The assumptions from developers and the disinvestment in single assets such as plots and developments reached 9000 units, while Bankia got rid of more than 5600 properties coming from awarded assets. Sources within the sector explained that this disinvestment figure is the highest within the nationalized institutions last year. The pace of disinvestment of awarded properties increased by 23,6%, with a higher increase at the end of the year, which allowed the bank to obtain 550 million Euros, 18,9% more than in 2011.

(…) BFA-Bankia more than doubled sales in December, in comparison with the average sales of previous months. During the last month of the year, it registered a total of 1100 sales of properties, 70% more than in November.

The assumption of properties from developers reached 2300 units in December, five times more than in previous months y doubling those in July, the second best month of 2012, when more than 900 properties were assumed. The institution also registered a disinvestment in buildings for 22 million Euros and in plots and single assets for more than 120 million Euros.

The nationalized institution points out that it launched several commercial campaigns in 2012, in summer and in autumn, with price reductions between 40% and 60%.

Bankia Habitat organized in November an unprecedented auction with more than 1000 properties of new construction, with the addition of properties from developers. The company sold assets for more than 13 million Euros through auctions.

In these operations, many customers bided directly through the Internet, through and through Reser, the auction platform participated mainly by Bankia. The bank offers those clients who are interested in awarded assets special financing conditions through a mortgage loan financing 100% of the investment with a limit of 80% of the assessment value, at Euribor plus a differential of 0,90 points. (…)

Source: El País