Banks slash property prices

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BANKS in the Marina Alta region plan to reduce their stock of empty houses by lowering prices by up to 50%.

Bankia has just reduced the price of 70 properties located throughout the region, especially in Denia, Vergel, Calpe and Pego.

Most are flats in urban centers, although townhouses are also available.

On property portal www.haya.es, where Bankia along with other entities such as Cajamar are marketing their properties, almost 200 houses are listed for sale, with 70 of those having just had their prices slashed.

A large number of the properties up for sale have been repossessed by the banks because their owners could not cope with the mortgage. With this in mind, although there are newer homes built in the 1990s and even at the beginning of this century available, older properties are also offered, built in the 80s, 70s and even the 60s. The main discounts are concentrated in Denia (16), Vergel (12), Calpe (7) and Pego (5).

Houses can also be found below the threshold of 40,000€ in Pego, Vergel, Gata, Pedreguer, Ondara and Teulada. In Calpe, properties are more expensive with most costing around 100,000€ after banks have reduced their prices by 10 to 20%.

Although there are fewer cases, they have also cut the cost of townhouses: there is one in Els Poblets for 121,000€, 5% less than it was before. In Javea, a triplex on Avenida Juan Carlos is up for 186,000€.

Lower prices can also be found in Beniarbeig, Benimeli, Benissa, Castells or Xaló.

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