Raise in real estate cost started in the provinces of Barcelona, Madrid and Valencia from the year 2013. The raise was caused by high demand from foreign customers, economic revival and deficiencies of new housing. Analysts suppose that this tendency will continue in the regions.
The consequences of world economic crisis influenced the credit worthiness of the residents and real estate developers which took mortgage loans for the construction of new buildings. During this complicated period the real estate developers were not able to meet the conditions of the loan and banks withdrawed the housing without considering delay of payment or reduction of rates.
Till the year 2010 banks became the proprietors of huge amount of real estate, but mortgage terms were quite tight. At the same time the domestic demand was still low. Properties accumulated and were not sold.
It developed that there was a need for some urgent changes in banking policy respecting bank properties. As banks were interested in fast properties selling they softened mortgaging terms and introduced significant discounts for bank real estate. Sometimes this discounts reached 60%. Immediately it influenced the real estate market: gradually the properties started to be sold.
Banks offer different types of real estate: low-cost properties, new appartments, commercial real estate, villas, construction sites.
- properties withdrawed from private individuals because of impossibility to pay ouy a mortgage loan
- properties of real estate developers that collapsed.
Appartments withdrawed from the private individuals generally are in bad condition and need to be repaired, all the services should be enabled. In the majority of cases these apartments are situated in the districs not favourable for not-residents living or resting.
That is why our company has an increased focus on the properties of second type (properties of real estate developers that collapsed).
These are real estate developers´ aprtments that are situated in already constructed buildings that collapsed real estate developers didn´t manage to sell.
Discounts for such apartments reach 30-60%. We consider these offers the most interesting on the market.
We have a lot of bank properties and we will be very glad to provide you with the services of purchasing, mortgage loan formalization and apartment arrangement.