14 Dec, 2014 @ 13:13
1 min read

Bankia launches end-of-year housing sale

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.

Imogen Calderwood

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  1. Why would they have a fire sale? Aren’t we being told on some blogs that Spanish property is falling off the shelves and even some (usually Agents) claiming that prices are rising.

  2. My flat cost now 1% more than it did last year . at least in the basque country , but if you want to delude yourselves into thinking that housing prices are falling off the shelves, well, that is your look-out

    by the way any of you can say something in spanish apart from buenos días?

  3. LUISMI, it is extraordinary that you wish to converse in the language of a people you so clearly detest. I am somewhat baffled as to why you have attempted to learn English at all.

    As to the story, all I can say is “desperate”.

  4. TO DEAR JANE, My father was an engineer on a US oiltanker in the seventies , that is why i can speak the english language , I have never hold up a conversation with anyone from across the channel, here we dont live on tourism as they do on the costa del crime, do you know this idiom?

    jocular the south east coast of spain , as used by several british wrongdoers as a bolt hole to escape brtish justice


  5. DEREK DEREK , dont let me down , your comments here have been always fair , you once posted here that there are many antispanish messages on this forum, YOU ARE the only one who owns up, and I must give you thanks for that ,


  6. Anyone else want to be friends with the Franco sympathiser?

    Is it anti-Spanish to criticise land grab, corruption and the planning injustices? Is it anti-Spanish to complain about laws to stop the peoples right to protest?

    Spain has a few wrongdoers too of course, most of which are in the government of your country.

  7. whatever they do at whitehall .is NOT my concern , if they wish to turn big beng into a 3 ring circus , that is their look out, not mine.
    if they want to have it painted green , this is not my concern either, do u follow my drift?

  8. if you dont like it , just do reserve judgement, or keep yourself to yourself, leave them ( spaniards) to their devices and let them do the complaining , that is the best course of action and my personal piece of advice to you Reap

    you can always vote at the local elections by right or start a political party as some germans did in Mallorca

  9. How about sending all the Spanish workers back to Spain, at the last count it was 90,000 and then the Dutch, Germans, Belgians and Danes do the same. I think the ball park figure is 250,000. Now how much will that cost the Spanish in Social Security payments.

    It could be good for Spain in that they will quite rightly blame the Francistas for their problems – viva Zapata, que pasa?

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