Catalan Banc Sabadell has made €1.27 billion from the sale of 7,700 properties during the first half of 2013
The real estate subsidiary of Catalonia’s second largest financial entity, Solvia, increased sales by 56% compared to last year’s same period. The company posted its provisional results for the first half of the year, although it has decided to extend its seasonal sales campaign until the 15th of August due to the high demand. Banc Sabadell made €1.27 billion from the sale of 7,747 properties. The forecast for the whole year is to sell 16,000 properties. Statistics released by the bank show that 15% of buyers are non-resident foreigners while 33% purchase to invest.
Barcelona (ACN).- The real estate subsidiary of Catalonia’s second largest financial entity Banc Sabadell, Solvia, announced a large-scale increase in property sales during the first half of 2013. According to the bank’s half yearly report, €1,273 million has been made from the sale of 7,747 properties in Spain. This figure represents a 56% increase for the same period of last year. Due to the high demand, Solvia, decided to extend its campaign to sell property during the first half of the year to 15th August. Banc Sabadell reported that during the first 6 months of the year they have mainly focused on the sale of housing units situated by the coast, both newly built and second-hand properties. Real estate located on the Mediterranean coast has been particularly successful. Furthermore, 15 % of buyers are non-resident foreigners and 33% of the properties sold by Solvia have been bought by investors looking to make profit through renting. It has been predicted that by the end of the year the bank will have sold 16,000 properties.
Non-resident foreign investors have bought 15% of Solvia’s real estate during the first half of the year. English, Russians and Nordics are those foreigners that have purchased the most. However, there has also been a considerable amount of North African buyers seeking to obtain real estate in Valencia and Murcia. It is forecasted that the total amount of properties sold this year by Solvia will be of 16,000, a significant increase from the 13,777 properties sold on 2012.