Big Banks’ Home Sales Fell in 2013

botinSpain’s large financial institutions also suffered plummeting home sales last year. In 2013, the total number of properties sold by the six largest banks and the Sareb stood at 78,448. Among them, the Santander Bank was highlighted, with its sales falling by more than 50%, from 33,500 in 2012 to 15,000 last year.

The Sareb sold 9,000 properties in 2013, amounting to a value of 700 million euros, belonging to nationalised entities such as Bankia, Novagalicia, Catalunya Banc and Banco de Valencia. Specifically, only around a quarter of the number of Bankia properties sold in 2012 were sold in 2013 (4,800 compared to 14,600 sold in 2012).

Meanwhile, Banco Sabadell was the institution to offload most properties, 18,501, to a value of 3,120 million euros, which is 40% more than the previous year. Through its real estate section, Solvia, it closed 34.2% more transactions than last year, when it sold 13,777 properties. In their balance sheet they highlight the transactions with non-resident foreigners.

Another of the major banks to come out ahead is CaixaBank which, through its real estate subsidiary, Building Center, achieved sales and rentals amounting to 2,180 million euros, an increase of 119% over 2012. The total number of homes sold reached 18,386.

One of the banks most affected by the decline in property prices is the BBVA which, despite selling 14,390 properties in 2013 (43.2% more than the previous year), its real estate section reported losses amounting to 1,254 million euros. In fact, the bank is considering the sale of its real estate division in the near future.

Lastly, highlighted the good results achieved last year by the Banco Popular, with a total of 3,171 assets sold to a value of 774 million euros.