Property bargains in Spain as banks sell surplus stock

Houses and Flats for sale in Spanish Banks and Savings banks

The current economic crisis has forced many Spanish banks and building societies to put properties (the majority houses and flats) up for sale at significantly discounted prices or with some very interesting credit facilities for the consumer. The properties on sale are the result of repossessed properties from individual or business clients.

How to buy a house or flat from a Bank or Building Society

Properties for sale with Spanish Banks

PROPERTIES SANTANDER BANK: Up to 1,300 houses and flats have been put up for sale (around 400 have already been sold). Prices discounts range from between 20% and 30%. There are also some special credit facilities with some credits for 100% of the value of the property being offered to some clients over a 40 year period.

PROPERTIES BBVA: There are almost 1000 new houses and flats on offer in 5 regions of Spain and around 600 used houses and flats located throughout Spain (42 provinces).

All properties are on sale to the general public. There are some very good offers such as a house in Madrid on sale at 2,232 euros per m2.

PROPERTIES BANCO POPULAR: This bank has more than 700 houses and flats on sale to the general public located throughout Spain. Most of the properties are in Barcelona where some very attractive prices can be found.

PROPERTIES BANCO SABADELL: In this case only land that can be developed on is on offer.

PROPERTIES BANESTO: Only new properties are on offer with around 1,300 houses and flats on sale throughout the Peninsula. There are some very interesting credit facilities on offer with 40 year mortgages with interest rates of Euribor + 0% for the first two years.

An example of some of the attractive prices on offer is a two-bedroom house in Ensanche de Vallecas (Madrid) for 164,000 euros.

Properties for sale with Spanish Savings banks

PROPERTIES LA CAIXA: This has 2000 uses houses and flats on sale distributed throughout Spain (49 provinces). There are 320 properties on sale in Murcia. Minimum discounts start at 25% (with a further 5% for those clients whose salary is paid into the building society).

PROPERTIES CAJA MADRID: CajaMadrid has more than 1000 properties on sale mostly in Spain’s largest cities and along the coast. Special attention should be paid to properties offers in Madrid, Valencia, Catalonia and Murcia. The price of some properties has been discounted by as much as 40% and there are some very advantageous credit facilities on offer (Euribor +0,50% without commission).

There are also some offers on properties for rent. For more information see: portal de vivienda de Caja Madrid.

PROPERTIES BANCAJA: Bancaixa has placed around 800 on sale located throughout 40 provinces. Weekly offers with three properties at specially discounted prices can be found on its website. More than half of the properties on sale are second homes located along the Valencian and Murcian coastline.

PROPERTIES CAIXA CATALUNYA: There are some 3,600 houses and flats on sale located throughout Spain. Around 1,700 properties have been discounted by as much as 30%. There are also 1,800 properties for rent at around 500 euros a month. Conditions include the possibility of the building society buying back the property if the owners face economic problems in the future.

PROPERTIES CAJA DE AHORROS DEL MEDITERRÁNEO (CAM): The CAM in Alicante has up to 2,500 properties on sale ranging from offices and garages to houses and flats. Price discounts are in the region of 20% to 50%. Direct sales are available and also potential buyers can place offers on properties as well as participating in property auctions.

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