The Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb) has put around 1,100 homes up to let, which are spread across the majority of Spain's provinces. The lion's share of the properties are new-builds, although there are some second-hand homes.
The properties are located in 20 provinces: Alicante, Almería, Badajoz, Barcelona, Castellón, Ciudad Real, Cuenca, Girona, Guadalajara, Huelva, Lérida, Madrid, Malaga, Murcia, Pontevedra, Seville, Tarragona, Toledo, Valencia and Zaragoza.
The full range can be viewed on the microsite www.alquileres-sareb.com. Sareb will gradually add new homes to let, located in these same provinces, as well as in other regions of Spain.
Among some of the most affordable rental properties is a 47 sqm apartment in Ocaña (Toledo), with a rent in the region of EUR 170 per month. Similar rental properties can also be found in an apartment development located in Taracena, in Guadalajara.
More expensive properties are also on offer, such as a 108 sqm apartment in the La Fortuna neighbourhood in Leganés (Madrid), which can be let for EUR 880 per month.
Sareb lets and sells its properties via four servicers (Altamira Asset Management, Haya Real Estate, Servihabitat and Solvia).
As part of its value-add strategy to maximise the return on the assets received, Sareb has increased the number of homes to let, thereby avoiding them falling into disrepair, covering costs and helping to make them easier to sell in the future, in order to meet its divestment mandate.
The company is also aware of the rise in demand for rental properties by different groups, such as the younger generation, and aims to increase the number of rental properties on the market via initiatives such as this one. In H1 2016, Sareb's rental property portfolio stood at more than 4,500 properties, compared to 3,900 at the end of 2015.
Breakdown by province of the properties currently included in the campaign
|Province||No. of homes|