How to Find Bank Foreclosures and Repossessed Properties in Spain

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spain house forclosure

After the huge crash in 2010, many of Spain’s banks still have thousands of properties in their portfolio that need offloading. They range from houses, offices, land and logistic warehouses, for sale or rent, and both new and second-hand.

A “bad bank” was created in Spain called SAREB. This was enforced by the European Union as a condition for receiving up to 100 billion euros in financial aid in response to the real estate crisis and credit crunch starting in 2008. SARAB acquires property development loans from Spanish banks in return for government bonds to make credit more available to banks.

Most banks are offering details about what properties they have available through their own property websites, such as Solvia (Banco Sabadell), Haya (Bankia), Aliseda (Popular), Servihabitat (Caixabank), BBVA Vivienda or Altamira.

Although the financial sector no longer applies such aggressive rebates on house prices as in previous years, interesting offers can still be found, especially in vacation homes (where a large part of the banking stock is concentrated), although there are also properties available in large cities. In some cases discounts are higher than 50% compared to past years.

Websites for Banks Offering Repossessed Properties in Spain

Below is a list of websites created by each bank to market their properties in Spain.

Banco Santander: Altamira Inmuebles http://www.altamirainmuebles.com/

BBVA: BBVA Vivienda https://www.bbvavivienda.com/

Popular: Aliseda Inmobiliaria https://www.alisedainmobiliaria.com/

Caixabank: Servihabitat http://www.servihabitat.com/svhPortal

Bankia: Haya https://www.haya.es/

Banco Sabadell: Solvia http://www.solvia.es/

Bankinter: Bankinter https://www.bankinter.com/www/es-es/cgi/ebk+inm+home

Grupo BMN: BMN Viviendas https://www.bmnviviendas.com/

Kutxabank: Kutxabank Inmibiliaria http://www.kutxabankinmobiliaria.es/

Unicaja: Unicaja Inmuebles http://www.unicajainmuebles.com/inicio.do

Caja España Duero: Giasa Inversiones http://www.giasainversiones.es/

Ibercaja: Portal Inmobiliario Grupo Ibercaja http://portalinmobiliario.ibercaja.es/home/

Liberbank: Liberbank Viviendas http://www.liberbankvivienda.es/

Abanca: Ecogecasa http://www.escogecasa.es/

idealista:  http://www.idealista.com/pisos-bancos

Websites Dedicated to Repossessed Bank Properties in Spain

Nowadays there are also many websites that list only repossessed properties from banks who usually offer 100% financing. Here is a list of websites:

Idealista: https://www.idealista.com/pisos-bancos

Outlet: http://www.outletdeviviendas.com/

Ya Encontré: https://www.yaencontre.com/inmuebles/pisos-bancos

Pisos Embargados: http://www.pisosembargadosdebancos.com/

Before agreeing to purchase a foreclosure in Spain it goes without saying that you need to thoroughly inspect the property. Banks sell properties  “as is”. They don’t make repairs or improvements beforehand.

Also be very aware of house squatters (ocupas). Banks usually put special doors on repossessed properties to keep squatters out.  You don’t want to get caught with the problem of someone living illegally in your newly purchased home.

Image: Freepik