The institutions decided to get rid of the real estate weight, reduce the price of their properties up to 78%. They offer favorable financing for more than 160.000 properties, half of which are homes. The shop windows of the real estate companies are constantly on sale, with products on clearance sale and discounts of nearly 80%.
Due to the summer season, most offers focus on holiday properties, mainly on the Mediterranean coast, where most of the stock of the banks is concentrated. The offer is not only limited to flats, but offers a whole range of assets. The web sites offer a wide selection of more than 160.000 properties, half of which are homes. The rest is divided between trade premises (9703), offices (1330), industrial units (2146) and garages and storage rooms (50650).
The arrival of the so called bad bank starts to show its effects: the institutions have granted more discounts, in view of the pressure of this competitor, which has more than 50.000 homes.
Apart from this, the great provisions carried out last year by the institutions have left some margin for maneuver to grant additional discounts on the starting prices.
Additionally, banks are offering mortgages with favorable conditions for those buying homes: financing of up to 100% of the value of the asset, payment terms of more than 40 years and moderate interest rates.
The real estate company of the first Spanish bank sells through its web page www.altamirasantander.com properties located all around Spain. With the slogan Altamira, where your future lives, the institution promotes homes, but also trade premises, industrial units and even a hotel. Most of the assets are located in Andalusia, Valencia, Catalonia and Madrid. Among its wide offer there are homes in Tarragona for a little more than 50.000 Euros and homes in the exclusive Velazquez Street in Madrid for nearly two million Euros.
The institution offers special conditions for the sale of properties, such as financing of 100% of the value at 40 years with interest rates of Euribor plus 125 and 200 basic points, depending on the link with the customer.
Also, Santander Real Estate allocates a space for professional investors where it presents catalogues of properties (located in Andalusia) and developments under construction which have been paralyzed or are being commercialized. There are also catalogues for land, for individuals (single family plots) and for investors.
Through the web site www.bbvavivienda.com, the institution puts within reach of potential buyers more than 35.000 properties. Most of the assets are in Catalonia, Up to the end of June, it maintains the campaign “Put a price on your house”, where it shows a selection of more than 2000 homes, with discounts of nearly 92% where the buyer has the last word.
At the same time, until September, it offers 700 holiday properties, with a mortgage of 108 Euros per month, and a discount of nearly 50%. The institution finances up to 100% of the buying price at 40 years. The interest rate depends on the customer. BBVA also offers a virtual shop window of its properties in Portugal, where it shows properties in Lisbon from 87.500 Euros
Bankia Habitat, the real estate subsidiary of BFA, puts the “for sale” sign on more than 13.000 properties. In order to boost its sales, it is now carrying out open house days so as to show its properties in Castellón, Valencia, Cuenca, Valladolid, Málaga, La Rioja, Gerona, Zaragoza and Lerida. Apart from this there are also online bids, 24 hours a day, 365 days a year, with properties in Alicante from 73.000 Euros and row houses in the mountains in Madrid for around 100.000 Euros. It also offers homes Km zero (brand new, but with a second hand price) with discounts of up to 28%. Its web, also has an outlet corner, where it is possible to buy a homes from 9500 Euros.
The web site of the Catalan group Servihabitat.com shows 25.647 properties, half of which are homes, with a wide offer in Barcelona, Valencia and Seville. Through the campaign “Homes for all budgets”, the institution proposes that the buyer decides how much it wants to pay. The online real estate company also gives out an Ipad2 to those users that recommend properties to friends, if finally the operation is closed. Also, the customers linked to CaixaBank in some of its programs have an additional discount of 5% on the selling price.
The web of ServiHabitat is one of the most visited real estate sites in Spain. It now has a specific section of rental homes, www.servihabitat.com/alquilafacil.