One way to buy cheap property in Spain is by searching for repossessed property. You will be able to find a wide range of Spanish bank repossessions for sale on idealista, and there are some specific agencies dedicated to selling this type of property. Known in Spain as Real estate "servicers", these companies manage both real estate and mortgages for banks, and will help you to find your home in Spain for a fraction of the price. With repossessed property for sale in Murcia, Málaga, Costa del Sol, Benidorm and more, these are the real estate agencies selling bank repossessions from 10,000 euros.
Aliseda-Anticipa
Aliseda-Anticipa is a real estate 'servicer' that belongs to the Spanish bank, Santander, and is dedicated to the management of real estate assets and credits. It is present throughout Spain and have properties for sale of different types, including flats, villas, offices, premises, warehouses, land, parking spaces, storage rooms, etc.).
Among the selection of repossessed properties for sale in Spain, you can find everything from luxury villas for more than 3 million euros, to flats and apartments for as little as 10,000 euros.
Altamira
Altamira is another 'servicer' once again owned by Santander, including Spanish repossessions direct from the bank. These Santander bank repossessions in Spain include more than 12,000 properties for sale and rent throughout the country, offering properties from less than 10,000 euros and up to 2.7 million euros.
Diglo
Diglo was started as a spin-off of Aliseda and was set up as an independent company under the name of Yera Servicers at the beginning of the year with assets from Santander. The company aims to start operations later in 2022 and its objective is to sell all types of properties, from land to offices, including cheap pre-owned homes (with an average price of between 100,000 and 120,000 euros). It is aimed at both large investors and private individuals, to whom it will offer comprehensive services, for example, the possibility of refurbishing or furnishing homes. It also offers to manage services for third parties.
Haya Real Estate
Haya Real Estate is one of the 'servicers' with the most presence in the market and one of the most popular options for those wanting to buy repossessed property in Spain. It belongs to the investment fund Cerberus and markets more than 15,000 properties a year. Its portfolio ranges from houses for less than 10,000 euros to mansions worth several million. It is worth noting that, on idealista, they have several buildings and developments on offer that are for sale in their entirety.
Solvia
Solvia is another one of Spain's most powerful agencies with repossessed property for sale. Owned by the investment fund Intrum, who bought it from Banco Sabadell for 241.4 million euros in 2019, it has properties for sale from 4,000 euros to almost seven million. It is also dedicated to renting, although to a lesser extent.
Casaktua
Casaktua is also owned by the investment fund Intrum and has properties from Banco Santander and Ibercaja in its portfolio. It has bank properties all over Spain, and the cheapest ones (usually village houses) start from 5,000 euros.
Servihabitat
Servihabitat, controlled by Coral Homes, 80% owned by Lone Star and 20% by Caixabank, stands out for the low prices of its properties. Amongst the repossessed properties for sale, you can find new-build villas for as little as 18,500 euros.
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