WITH Black Friday just behind us and Boxing day sales around the corner, one Spanish lender is extending the bargaining banquet to its property portfolio.
Nationalised lender Bankia has launched a month-long end-of-year sale to reduce its enormous debt by slashing the price of 6,000 homes by up to half price.
Some properties will now be on offer for less than €80,000, but buyers will have to move fast as the sales campaign ends on December 31.
Bankia has already offloaded €800 million worth of unpaid loans to American firms Bain Capital and Starwood Capital in an attempt to balance its books.
Formed in 2010, Bankia was nationalised in 2012 after receiving a €19 billion government bailout, the largest ever in Spain.
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