Banco Sabadell has sold 16,000 properties during 2013 at a total of €3,000 million, compared to 13,777 sold in the previous year amounting to €2,316 million. The target for 2013 was to sell assets of 16,000 properties, 17% more than in 2012 which amounted to €2,600 million an improvement of (+16%), Josep Oliu the banks president says the price of housing “has now bottomed out”, “when you really start to move the real estate backlog it is the beginning of more movement in the economy”, said Oliu, but he has clarified that the housing stock will take years to be sold depending on the economic outlook of the market.
Josep Oliu president of Banco Sabadell (Photo:Idealista.com)
Oliu estimates the stock of bank Sabadell real estate assets totaled 18,000 million euros, and the company will invest 150 million euros in the construction of 1,182 homes in areas where Spain has detected a spike in demand or prices.
