Banks overstate the prices

Created on 03.01.2014 23:16:09
Banks overstate the prices

The association of clients of the companies (Adicae) accused the Spanish banks of real estate sale at the price above the market.

The bank real estate can be up to two times more expensive, than the housing offered for sale by individuals. As the proof of Adicae carried out comparison of 96 similar objects worth up to 150.000 euros being on balance of realtor branches of six Spanish banks and belonging to individuals. Nearly a half of objects (45) was cheaper at private sellers. The average difference in the price made 20.36%.

For example, the apartment in Tarragona, offered for sale by large bank BBVA, costs 90.500 euro. The similar apartment located on the same street, but belonging to the individual, costs only 39.000 euro. These are 56.9% of a difference in the price. In Valencia such difference makes 53.1%, and in Madrid – 51.4%.
Besides inflated prices to banks charge with the insufficient description of objects offered for sale. It allows to mislead the potential buyer, to prevent it adequately to estimate quality and real cost of offered object.