Bankia, Liberbank and Cajamar reopen the price war in the 'brick' with 2,200 houses for less than 60,000 euros

The bank has launched a new burst of housing with heavy discounts before the next arrival of the holiday period and the first symptoms of cooling in the escalation of the

  • Economy.The 'bad bank' will denounce defaulters of the 'brick' for the non-payment of 22,000 million lent by the savings banks

The bank has launched a new burst of housing with heavy discounts before the next arrival of the holiday period and the first symptoms of cooling in the escalation of the price of housing. Only in the last week Bankia, LiberBank and Cajamar , three of the entities that absorbed the most real estate during the crisis, have brought to the market more than 6,000 new houses with discounts of up to 50%.

It is in some cases housing located in the interior of Spain and outside the large cities or provincial capitals, a segment of the market where the market price has practically stagnated in the last year. But also in coastal areas such as the Region of Murcia, Andalusia or the Valencian Community. The entities, advised by their real estate partner Haya Real Estate, have decided to sink their prices and offer 2,200 of these properties at a cost of less than 60,000 euros .

This reference is around three times the average salary in Spain. "This strategy makes available to many people the possibility of buying a home at an affordable price, and opens a remarkable range of possibilities," explains Juan Carlos Herranz, commercial director of the retail business network of Haya.

By entities, Bankia has sold 2,400 properties, of which 1,200 are homes and 950 unique assets distributed throughout Spain. The bank chaired by José Ignacio Goirigolzarri launched the promotion on Tuesday and in just a few hours more than 100 properties disappeared from the catalog.

In all cases, it is about second-hand housing that went to the balance of the banks due to the bankruptcy of real estate developers or the non-payment of the mortgage of their tenants. The package is completed with other properties such as 450 commercial premises and offices, 270 parking spaces and 390 floors in different levels of development. The bank and real estate partner, Haya Real Estate, have baptized the operation as Hurricane discounts and will expire on July 15.

The Bankia promotion came only a few days after Liberbank launched its Spring Campaign to sell 2,000 properties with discounts of up to 50%, of which 750 are homes concentrated mostly in Castilla-La Mancha.

And Cajamar, on the other hand, announced yesterday that, also in the hands of Haya, it is starting a campaign with more than 3,800 properties. Offer housing, garages and storage rooms, but also commercial premises, industrial buildings, new construction and second hand, and includes assets located in large towns and dormitory towns.

Symptoms of cooling in the 'brick'

The new wave of real estate sales by banks comes with the first signs of a cooling in the price of housing , after years of strong rise and just before the holiday period, one of the great spikes in buying and selling. The entities last promotions aimed at the second home market that will focus on the coast and will see the light in the coming weeks, explain industry sources.

Houses are still more expensive than a year ago, but the thermometer of the appraiser Tinsa already highlights a slight contraction of the general price index of 1.1% since January after three consecutive months of stagnation. "All the geographic aggregates extracted from the general index are somewhat below the values ​​of January 2019 , which confirms the trend of price stabilization," says Rafael Gil, director of the study service of Tinsa. If compared to April 2018, the cost of housing is still 2.9% higher.

This stabilization of prices will push many investors who were speculating with their rise to market their real estate, raising the offer and contributing even more to balance the number of purchases with a demand still rising due to economic growth and the absence of alternatives. financial investment.

This is the bad bank itself that manages the real estate assets of financial institutions in its last annual report. "The geographical fragmentation of the real estate market, such as the unstable national political situation as well as a certain slowdown in the national economy, could play against a stable or sustained increase in transactions and prices," says Sareb in relation to its business perspectives for 2019.

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ref: elmuldo