Bankia Triples REO Sales in Q1 2014

6/05/2014 – Europa Press

During the first three months of the year, Bankia sold 2.200 properties. This means tripling the 659-unit score of the same period in 2013.

The poor performance registered a year before shall be mostly assigned to the toxic asset transfer to Sareb, begun at the end of 2012.

Bankia reckons that the improvement is due to the end of price adjustment and their resting on the rock bottom level. Additionally, the entity foresees a small, stable price setting for the nearest future that could last until 2015.

Finally, the bank indicates that inflated volume of unsellable stock is gradually being absorbed with finished houses dimishing the fastest.

The entity chaired by José Ignacio Goirigolzarri owns stock composed of apartments (70%), duplexes (3.1%), detached houses (10.5%), townhouses (12.6%) and single-family homes (3.8%).

Considering each region, 27.7% of Bankia´s residential assets are found in the Valencian Community, 21.92% in Catalonia, 13.44% in the Community of Madrid, 8.62% in Andalusia and 3.9% in Murcia. The remaining 25% is scattered around other Spanish regions.


Original article: Europa Press

Translation: AURA REE