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Bank Repossessions in Spain on Polaris World

Posted by lavida on March 12, 2012
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The six Polaris World golf resorts in Spain were completed just before the credit crisis hit in 2008. When it did, on some resorts there was a selection of brand new property, between 10% – 30% of the resort total that was either unsold or that off-plan buyers failed to complete on.
Since 2009 we have been selling this property stock at roughly half price. You may have seen these bargains advertised extensively. These apartments and villas are offered on resorts complete with 18 hole Nicklaus golf courses. Some have five star hotels and all have bars, restaurants and an extensive range of swimming pools.
For bank repossessions Spain now offers a superb investment opportunity. A chance to pick up a brand new property at half its original price. Sales have accelerated to give us now our busiest time in seven years. We still have a selection of bank repossessions remaining but stock is selling fast due to the price discounts and the mortgages on offer.

Spanish Banks Offering Cheap Bank Repossession Properties

We work with all the main banks in Spain as a specialist seller of their repossessed properties to international buyers. Naturally the price is the same and you get all the benefits of buying from the bank direct. However you also gain our knowledge and experience having helped hundreds of UK buyers buty bank properties in Spain. Plus of course we speak your language.

Solvia bank

Previously known as CAM bank. CAM was bought by Sabadell banking group. The property arm of CAM known as CAM Mediterannean became Solvia property.

Bankia Habitat

Previously the property arm of Bancaja which merged with several banks to form Bankia, Bankia Habitat has now been renamed as Haya. Many of the properties owned by Bankia have been absorbed by SAREB (see below).

Sareb

Also known as the bad bank in Spain. This was formed by the Spanish government to absorb many off the unsold properties from the banks in Spain.

Banco Popular

Through its designated property arm Aliseda, Banco Popular has been offering some of the best finance available for international buyers.

Santander

Santander was not heavily involved in the boom bust of the property cycle in Spain. But the property arm of Santander bank, Altamira now has available a number of properties from Sareb.
La Vida Spain has experience selling with all the above entities and has access to property stock at prices direct from the banks in Spain. We are able to cut through the difficulties of dealing with banks in Spain, including the language barrier and bring these direct to our international buyers.
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