There are 95,000 unsold homes in the Valencian Community in which we live and half of them are in the hands of the banks, primarily Bancaja and CAM, according to President of the Valencian Federation of Construction Entrepreneurs (Fevec), Juan Eloy Dura.
He went on to say that approximately 70 percent of properties held by savings banks and credit unions come from debt compensation agreements with developers or from individuals who couldn’t repay their mortgages.
Fortunately for the banks, there has been a slight increase in property prices over the past month. Dura says that homes are now at a “more or less fair price”. However, there are far fewer proposed building projects than previous years.
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