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article_detail
Date Published: 09/10/2019
ARCHIVED - Bad bank attempts to offload Costa Cálida resort property at Munich fair
Sareb believes the time is right for buyers to snap up homes which were built in Murcia a decade ago
Sareb, the bad bank formed in Spain to handle properties falling into the category of “toxic assets” acquired by other banks as a result of the property market crash over a decade ago, is present this week at the Expo Real property fair in Münich to attempt to sell properties on the golf resorts of Hacienda del Álamo, Mar Menor and Las Terrazas de la Torre II, among other homes on their books.
Assets from the Sareb portfolio which are being presented in southern Germany include not only chalets and apartments along the Mediterranean coast but also a wide range of other properties throughout Spain including hotels, commercial premises, incomplete construction projects and many others. Information regarding all of these are being made available to the 45,000 visitors expected at the event, which ends on Wednesday 9th July.
Most of the homes in the Costa Cálida which are being presented at Expo Real 2019 were built over a decade ago, and never found buyers as the demand for property suddenly all but disappeared in 2008, sales figures plummeted and market prices went into freefall. Now that demand has returned to a sustainable level in Murcia, though, the stock of unsold properties has been eaten into and it may be that the time is at last right for the remaining homes in developments such as the resorts in Torre Pacheco and Fuente Álamo to be snapped up.
To view a wide range of properties for sale across Spain consult the Spanish property page.
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