The Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb) has decided to further drive the sale of its assets with the launch of its own campaigns and under the "Sareb" brand. The initiative kicks-off with the launch of a microsite to sell 2,000 homes on the coast, starting from €46,200.
In the future, the company will launch other campaigns to showcase Sareb's product to individual investors, among others, by putting plots of land and country estates up for sale.
This strategy will be accompanied by the launch of a commercial "Sareb" seal of approval that will guarantee the "reliability and opportunity" that comes with purchasing one of its properties. Sareb's Executive Chairman, Jaime Echegoyen, announced this initiative in the information briefing organised by Europa Press in collaboration with Servihabitat, which focused on the management company's role in the recovery of the real estate and finance sector.
The first sales campaign, is already underway on the web site www.tucasaatodacosta.com, with housing located in the Comunidad Valenciana, Balearic Islands, Canary Islands, Andalusia, Cantabria, Galicia and Catalonia. The campaign will run until the end of August and the sales marketing will be carried out via the four servicers that manage Sareb's assets, Altamira, Servihabitat, Solvia and Haya.
The properties for sale include apartments and single family homes with 1 to 6 bedrooms and prices range from €46,200 for the most affordable home in Moncofa (Castellón) up to €2.8 million for a luxury villa in Pollensa (Majorca).
In the information briefing, Echegoyen ran through the company's many achievements during the just two years that it has been operational. Sareb's role as the driving force behind the real estate market, explained Sareb's Executive Chairman, started in 2013 with Operation Bull, which resulted in a change in perception in the sector and saw overseas investors return to Spain.
Over the past two years of being operational, Sareb has sold 24,000 properties, has completed 25 wholesale institutional transactions and has generated more than €9,000 million. These funds have allowed it to write-down €5,700 million of debt and pay more than €2,400 million in interest to the contributing banks.
Sareb's Executive Chairman provided information on the company's first half figures, in which 5,400 properties were sold to private individuals. These figures equate to the sale of 30 units a day and many of them have been sold in collaboration with small developers via the 'Sales Grouth Plans' (PDVs).
According to Echegoyen, retail sales are Sareb's lifeblood, comprising 80 per cent of its revenue. At the same time, the company continues with its plans to finalise works under construction, which will allow it to put 1,190 new homes up for sale this year, as well as develop 13 plots of land that will increase their value in the future.
The company will continue to build on its social initiatives and expects to sign new agreements with autonomous communities to transfer them affordable housing to let. To date, Sareb has assigned more than 1,100 homes in Catalonia, Aragón, and Galicia. Sareb also recently announced that it is working to create a retail unit programme with affordable rents to bolster business activity.