Urged by Law, Great Banks Sell 180.000 Properties in Two Years

5/02/2014 – Cinco Dias

Strong enforcement provisions imposed by the Ministry of Economy on the banks´reale estate burden has transformed awarded assets sales into one of the greatest headaches of the financial sector.

Commercial activity of the portfolio turned out to be strength in the banks´performance presentations. The 2013 data shows that solely the six principal entities sold over 80.000 properties (…)

Still, the number is 20% smaller than the 100.000 dwellings sold in 2012. What is more, the banks offered the property with 40-50% discounts and in fact by the deed slightly revived the market in stall. (…)

When it comes to 2013 sales, the law imposed in 2012 speeded the finished houses´ sale up to 40% and then (…) some transactions added to their annual score.


The bank managed to sell 21.383 properties in 2013, out of which 14.390 belonged to its own balance, (…), with €1.469 million revenues. In 2012, it found a new owner for 12.000 units. BBVA considers putting on sale its real estate branch, Anida.


This bank closed the year 2013 with sale of 18.501 properties (12. 350 from its own porftolio), compared to the 13.777 dwelling score from 2012. (…) It earned €3.120 million. Sabadell also weights up the sale of its real estate, Solvia.


Caixabank boasts of the biggest volume of commercialized property: 29.132 operations worth €5.309 million. 49% of it are property sales. (…) Merely 9.000 of them came from its balance. The entity sold 20.000 houses in 2012.


Banco Popular carried out 3.171 transactions during 2013 that directly involved 4.289 properties, as some of the dwellings went along with garage spaces and other anexes, plus 469 units as a developer. The entity sold 2.600 properties in 2012, earning €774 million.


The bank´s performance in 2013 was mediocre (15.000 units) in reference to 2012 (33.500), gaining €2.000 million.


Similarly, Bankia is not supposed to be proud this year, with 4.800 sold properties juxtaposed with the 14.600 in 2012. (…) However, the bank´s score is justified by the transfer of attractive assets to Sareb.

The Bad Bank

Sareb (…) sold over 9.000 dwellings in the first year of its lifespan. Portfolio sales, like Teide, or the 5.000 rented houses are not added to the number.

Original article: Cinco Días (Juande Portillo)

Translation: AURA REE