In February 2014, Spanska Fastigheter signed a unique contract with Spain's second largest bank, the nationwide and well-reputed bank CaixaBank. We became the first broker to be awarded the International Brokers License.
[Update 2020, after the Corona crisis, about bank repossession. The market for bank properties is basically dead as the most attractive homes sold out a long time ago, and there are basically no new properties being added. Many wonder if the Corona crisis will lead to a market for bank-owned housing like after the last crisis. We have spoken to several banks and they all say the same thing. No, it won't. On the one hand, this crisis will not be as protracted, and on the other hand, it is not rooted in the loan sector. Above all, new Spanish laws (which entered into force before the Corona crisis should be added) have been enacted with the aim of preventing people who have found themselves in financial straits from losing their homes. The banks also do not want homes that cannot be sold on the market, as these are extremely difficult to sell. The great opportunities in the wake of the Corona crisis lie instead in so-called Underhand sales.
The most affordable off-plan apartments on the Solkusten this year. Beachfront apartments in Torrox.
Underhand after Corona
Underhand simply means that many who are now putting their homes (including hotels, B&Bs and other commercial properties) up for sale at greatly reduced prices, or those who are greatly reducing the price of their homes that were already for sale before the crisis, choose to do that "in secret". They don't want to show it off. However, we may send these reduced-price properties via direct mail. Write to info@spanskafastigheter.se if you know what you are looking for, and where, and can make a quick deal.
However, this procedure will not apply to new development .
However, there are still finds to be made in the form of new development on cheap, bank-owned land/skeleton structures bought up by developers, i.e. projects that went bankrupt around the crisis but are now restarting again at a cheaper than usual cost. Above all, there is talk now, and for a long time to come, about so-called building communities . A project solution that lowers the prices of new development by up to 35%. Read more here. Another option is renovation objects. Read more about properties in need of renovation in Spain (Malaga area recommended).
Link to Eastern Costa del Sol and Costa Tropical (Nerja, Torrox, Almunecar etc.)
Link to western Costa del Sol (Marbella, Benalmadena, Fuengirola etc.).
Alternatively, write directly to info@spanskafastigheter.se
Older article on banking objects below:
This means a unique opportunity for our customers, not least thanks to the fact that we receive information about their banking objects before all other foreign brokers in Spain. We also get exclusive rights to sell certain homes. [Subsequently, the majority of other banks have also signed contracts with us, so we cover all major players around Spain in terms of bank withdrawals. Depending on what and where you are looking for, we make sure that you are matched with the most suitable actor. This may vary from month to month.]
Note, the bank made a major investment in 2015 and, among other things, changed its name. The international office was moved to the city that is most sought after for investments (Nerja) and they offer after-service, advantageous bank loans for Swedes, etc. Read more about getting a loan promise in a Spanish bank online.
The bank not only provides us with cheap bank repossessions across Spain, but can also offer our customers up to 90% financing (70% on non-owned properties) and after-sales service. The bank repossessed homes are mainly found on the popular Costa Blanca and Costa del Sol coasts, but also Mallorca, the Canary Islands and Barcelona, etc. La Caixa is the country's second largest bank and has the largest database of bank properties in Spain. Through us, you have the opportunity to buy a bank repossessed home in all Spanish provinces.
Read our article on property investment in Spain . About the best areas to invest in, what type of property (it's rarely bank withdrawals are the best buy) which is the best investment, etc.
Also read our overview of the most affordable and attractive projects with newly built homes.
Registering with the bank to receive information about their range, as well as viewing bank repossessed items on site in Spain, costs nothing. The service is completely free.
The bank has Swedish-speaking (or English-speaking) staff and they offer, in collaboration with spanskafastigheter.se, bank loans in Spain that are adapted for Swedes . The purpose of this collaboration is to make it easier and safer to borrow money across borders, and to ensure that you make the best possible investment when buying a bank property or other residential, land or commercial property in Spain.
For our customers, this not only means increased security, but also better conditions and service. All loan applications in the Spanish bank are handled by Swedish-speaking staff. All communication and viewing of repossessed apartments and houses, wherever in Spain the residence is located, is also managed by Swedish-speaking staff.
Write to us and we will provide information on which documents you need to send if you want to have more or less clear information about whether you will get a loan or not even before you go down to Spain. info@spanskafastigheter.se
Our main broker Anders Larsson also participates in seminars in Benahavis a few times a year together with the bank. The seminar is attended by international investors who are looking for land as well as housing and hotels and other commercial objects in Spain . So it's not just villas and apartments that can be bought directly from banks. The opportunities to make a really heavy investment in Spain have never been greater.
The bank objects – New construction and second-hand objects
- The market for bank properties was chaotic for a few years, but how several of the larger banks in Spain stepped in and controlled the situation. The bank objects we have access to include thousands of objects all over Spain and new objects are constantly being added.
- How cheap are bank withdrawals? They are up to 65% off in price. Everything from apartments from 10,000 Euros and up is for sale. The cheapest properties (those under SEK 500,000) are rarely located near the beach.
- All the papers are in order and all parties act in accordance with a strictly regulated procedure so everything goes right.
- Brokers from spanskafastigheter.se organize viewings in certain areas, otherwise we arrange for the bank to meet you with its staff.
- Note, once again, that the Bank objects are found in all provinces where CaixaBank has offices, which means that the database covers all of Spain.
- Please also note that the bank does not sell the bank objects directly to the customer, but it is handled via brokers, such as us (without any extra cost being added to the price, of course).
Here's how to buy bank withdrawals in Spain
Not sure what your options look like? Write to our main broker at Solkusten, Anders Larsson, and he will get back to you with answers to your questions: spanienkontoret@spanskafastigheter.se
NOTE that the most common and best approach is a little different compared to the purchase of "normal" homes, where you email back and forth for several months until the client feels that she or he has found the right one and then books a trip for a viewing. The attractive bank repossessed apartments and houses sell quickly. We will therefore not post very many objects on the page.
As we receive advance information about newly arrived items, it is important that, when something new and unique comes out on the market that we know will sell immediately, that you are prepared to go down to Spain at short notice and that you have reserve money (in a Spanish account) ready. More on this below.
This is how it works:
- Enter a notification of interest to us. Enter your full name, phone number and email.
- Write what and where in Spain you are looking for housing (if you are unsure where in Spain you want to invest, write to info@spanskafastigheter.se for advice and tips.)
- We will register you with the bank that currently has objects that best match your criteria. Within about 3 days, the bank's broker, Swedish-speaking or English-speaking (depending on the area), will then return with examples of objects that are available right here and now, and what, if any, is on its way to the market where you are searching. They then continue to continuously send items based on your criteria for a shorter period (2-3 months at the most depending on which bank it applies to).
- If you are looking for an object in an area where we have our own brokers, we handle all future contact and possibly future display.
- We receive continuous information about all our clients so we can give feedback. If the bank has not found what you are looking for after a couple of months, write back to us and we will find alternative ways.
PLEASE NOTE, signing up to be presented with an object, and/or applying for a loan online is completely free of charge.
The purchase process bank withdrawal
- When you arrive in Spain, an authorized broker will show you the objects you are interested in.
- If you decide to buy, an official reservation document must be submitted. In order for this to be established, you must have a Spanish bank account, any bank (but the bank that shows you the residence is obviously the easiest choice).
- The reservation document indicates a specific bank account number for the transaction of the residence. You must have a down payment of 1,500 Euros available on this bank account for the purchase of bank withdrawals up to 100,000 Euros. The down payment is 3,000 Euro on purchases above this amount.
- However, this down payment does not guarantee that the home will be purchased by the customer. The reservation document is sent to La Caixa, which approves or rejects the transaction within a maximum of 15 days. If the transaction is not approved, you will get the deposit back within 7 days of the decision.
- When your application to buy the home has been approved, the purchase process continues.
- To sign a deed, you must be able to present a valid passport, NIE number (ID number for foreign nationals in Spain, or CIF number (for companies). You will receive all the information and assistance you need to prepare these documents .
- The entire amount is paid in connection with the title deed being established (which is faster than with normal purchases which can take several months)
Dagens Industri used us as a reference regarding, among other things, bank withdrawals, May 14, 2014:
A minute long video presentation, a small selection of bank foreclosures that are for sale right now (to give you a price picture).
Are bank properties the best investment in Spain?
Not necessarily. It depends on where you buy and what you buy. Most bank properties are not located by the beach or other popular areas where it is easy to rent out your apartment. However, such objects sometimes come in, but then you have to be very well prepared as they disappear in just a few days. Write to spanienkontoret@spanskafastigheter.se and we will tell you about the Spanish homes that are the best investments right now.
After service
In addition to giving Swedes good conditions for borrowing money to buy a home in Spain, as well as a Spanish account etc., they also offer a complete after-service service. For example, the bank helps with things like help with translators at hospital visits, looking over insurance, fixing auto payment on water/electricity/community association bills, etc. Everything that you want to have as little hassle as possible when you move to Spain.
About the bank La Caixa
- In a country where the banks have fallen into the trap of the past 7 years, it is a feather in LaCaixa's cap that they were recently named Spain's best bank by Euromoney.
- The bank was founded in Barcelona over 20 years ago, and in autumn 2013 the brokerage part of the business alone was valued at a staggering 370 million Euros.
- They have more than 6000 offices in Spain.
- They offer several credit solutions with tailored investments for those who want to buy a home in Spain.
- CaixaProtect is the best service to protect against fraud in Spain.
- Mortgage loan with good terms.
- CaixaBank has Swedish-speaking staff . All loan applications are handled in collaboration with Spanska Fastigheter by Swedish-speaking staff.
- Their banking service Linea Abierta is available in 19 languages around the clock, all year round
Write to spanienkontoret@spanskafastigheter.se for more information about bank objects and loan conditions.
Note that it is selling very much now since a year ago. The pressure on agents on the Costa del Sol as well as the Costa Blanca testifies that their problem is no longer getting clients but getting what they are looking for, at the clients' budget.
Links to our newsletters
- Newsletter Nerja
- Newsletter Marbella and other western Costa del Sol ( Mijas , Fuengirola , Estepona etc)
- Newsletter Torrevieja and the rest of the Costa Blanca (Alicante, Calpe, Altea, etc)
- Newsletter Barcelona and Costa Brava
- Newsletter Canary Islands
- Newsletter Mallorca
Read also:
A selection of our homes in Nerja. (note, there are hardly any bank properties in Nerja. The best area for bank properties in All of Spain right now is Marbella).
Apartment in Torrevieja on the Costa Blanca - best buy right now.
About renting a house or apartment in Spain.