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Bankia Habitat launches Subasta Outlet auction programme

03 April 2013

Category: Real estate

  • The properties will be on offer until the end of month at discounts averaging 46%.
  • Prices start at around 24,000 euros.

Bankia Habitat, the BFA-Bankia Group’s real estate company, today starts its first real estate auction in the form of the Subasta Outlet programme, with more than 500 properties and garages.

The items for auction consist of secondhand properties located in various parts of Spain. The average discount on the assets to be auctioned is 46%, with discounts rising to 60% in individual cases.

The majority of the assets are situated in the Community of Madrid, the Valencian Community and Catalonia.

There are properties for auction with starting prices from 24,000 euros in municipalities in the regions of Alicante, Lleida, Burgos, Soria and Guadalajara, among others. The provinces of Valencia, Murcia, Barcelona, Las Palmas and Santa Cruz of Tenerife have apartments from 37,000 euros, while properties in the Community of Madrid, Castellón and Palma de Mallorca start from 57,000 euros.

Subasta Outlet will operate from today until 25 April.

The procedure is the same as was used for the Gran Subasta auction programme held last November. Bids may be submitted via the websites of Bankia Habitat and the auction platform Reser, of which Bankia is the majority shareholder (http://www.bankiahabitat.es/ and http://www.resersubastas.com/).

The auction is visible to anyone who is interested and can be consulted online. Once a bid has been submitted, the bidder is notified by email whether he or she is currently the highest bidder or has been outbid. The auction will end on 25 April, once all the bids have been registered. Prospective buyers may go online to arrange an appointment to visit the property before submitting their bid.

There will also be a "Buy now" option, allowing interested parties to bypass the auction process.

Financing

Bankia offers interested customers the possibility of financing 100% of the investment through a mortgage loan for up to 80% of the appraisal value, at an interest rate of Euribor plus a spread of 0.90 points.

Bankia Habitat ended 2012 having sold more than 5,600 properties resulting from foreclosure, up 23.6% on the year before. These sales earned the bank revenue of 550 million, up 18.9%.

Together with the subrogated mortgages from developers and the disposals of singular assets, including land and developments, amounting to around 9,000 units, these sales bring the number of real estate assets divested by the Group last year to more than 14,600, for a value of 1,600 million euros.

Broken down by autonomous community, BFA-Bankia sold 1,920 properties in the Community of Madrid, 1,200 in the Valencian Community, 480 in Castilla-La Mancha, 380 in Catalonia, 380 in Andalusia, 320 in Castilla y León and 160 in La Rioja.

Bankia Habitat is the BFA-Bankia Group company that holds the entity's real estate assets. It has established itself as a major asset management company and a significant property sales channel in the Spanish market.

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