According to sources at Sareb* there is currently intense competition for the property portfolios the company has for sale, with around one hundred investment funds currently in discussions about purchasing property related assets.

Sareb has already completed its first wholesale transaction, selling a 100 million euro real estate portfolio

Walter de Luna, Managing Director of Sareb, suggested in a recent interview that the interest in their real estate portfolios from overseas investors – including the foreign big banks – is a positive sign that could herald an increase in Spanish property prices.

Investors have downgraded the risk of Spain being forced to leave the Euro, giving them the green light to invest in Spain.

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*Sareb was created as a vehicle to assume responsibility for the toxic assets held by the Spanish banks. Its main objective is to achieve major restructuring within the banking system and to realise the maximum profit potential from these assets.