The Spanish bank BBVA, Banesto, La Caixa and the Bankia has 1.470 homes that they have up for sale with real estate brockers. It is only a small fraction of all the homes that banks have. When buyers could not manage to pay their mortgages, banks have received hundreds of homes in its portfolio.
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A surplus of homes has been the result of property speculation that Spain has suffered in recent years. Many people bought at the two homes where one house would be rented out and the money would cover the mortgages.
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The difficulty in getting one home rented has led many banks have been redeemed housing. Banks do not give any precise information on the actual number of homes is that they sit on.
A review has been done and banks and savings banks in the province of Malaga about 1.800 homes up for sale.
Only BBVA has 570 homes, most of them in Malaga province, but also in the Rincon de la Victoria and Estepona, where 57 and 56 homes are for sale.
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Banesto has 421 homes for sale, many of them located in Mijas (45), Estepona (38) Manilva (33). La Caixa has 260 vacant homes in Marbella, Vélez Málaga and Estepona.
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Bankia has 240, most in Estepona, Mijas, Vélez Málaga and Marbella. Banco Santander and Unicaja has homes for sale in Torre del Mar, Antequera, Benalmadena and Estepona.
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Cajamar Caja Rural has homes for sale in Antequera, Manilva, Benahavis, Benalmadena and Fuengirola.
While there are 20.000 to 22.000 new homes in the Malaga province that are unsold.
Large amount of unsold new construction properties in Spain
The number of unsold newly constrution properties in Spain was at the beginning of the year to 687.523. The figure is slightly less than a year earlier, but this is the first time in five years as it sinks. Half of the unsold new settlements located in Valencia, Andalusia and Catalonia.
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