Bank selling more property than developers in Spain
Posted Sep 14, 2009 @ 3:12 am, Viewed by 254 Visitors, Read 266 Times.It seems that banks are doing a better job than developers at selling their excess properties in Spain.
A report released last week shows that the real estate businesses, which are affiliates of the Spanish banks, have sold considerably more property than anyone else over the past few months.
Banco Santander, Banesto and Caixa Catalunya have completed on over 1000 properties each defying general perception that the banks cannot cope with the number of properties on their books.
The banks are also doing particularly well in generating rentals in Spain for many of their properties.
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