Spain’s “Bad Bank” is pushing property prices up

Spain’s “Bad Bank” or SAREB (sociedad de gestión de activos procedentes de la reestructuración bancaria) is selling some of its properties at prices which are higher than they were before these same properties were passed on to this nationalised entity.

Investors looking out for bargains have been disappointed to find that prices have not gone down significantly and, in many cases, have even gone up. Often, the price advertised is the one the property fetched in 2008.

A SAREB’s spokesman said that the entity is looking to get the highest price possible for its assets.

Link to article in Spanish:

http://www.idealista.com/news/archivo/2013/02/07/0575687-el-banco-malo-sube-de-precio-algunas-de-sus-viviendas