In another valiant attempt to recover from Spain’s property crash and to offload uncountable properties for sale on their books, Bankia, has launched its first eBay style property auctions. More than one thousand properties from SAREB bad bank have been made available to bidders from 43.393€ and in many cases, the newly reduced price is 40% lower than the original sale price, which is excellent news for cash buyers.
The Canary Islands are a popular choice when it comes to the purchase of a holiday home. Countless foreigners fall in love with the islands and decide to buy their own place to enjoy with their families in a more private setting instead of booking in at a hotel. Many choose to rent these properties out short-term so that they are not empty while the owners aren’t using them themselves and so that the property pays for itself, generating a small income.
