ValenciaThe Societat d’Activis de la Reestructuració Bancària (Sareb) and the Generalitat Valenciana are about to close the sale of nearly 500 flats for an amount of 50 million euros.
With the operation, which would be the first transfer between an autonomy and the known as bad bank (the entity that was created to buy all the toxic ingots from the banks during the crisis and clean them up), the Valencian administration will be able to increase by 4% its public housing stock, which currently stands at 14,604 units.
As reported by Sareb in a statement, the sale will be carried out in several phases. During the first, which should take place in April, the Generalitat would acquire 335 homes that it is currently visiting to check their condition.
From Sareb, which has 8,000 properties in the Valencian Country alone, they have assured that they hope that the agreement can be extended to other autonomous communities and, in this way, advance in the generation of income for the return of their debt with the State
On behalf of the Generalitat Valenciana, the vice-president and councilor for Housing and Bioclimatic Architecture, Héctor Illueca, emphasized this Wednesday that the agreement “has cost blood, sweat and tears”. In addition, and in statements to À Punt, he emphasized that, initially, Sareb was “absolutely reluctant to any transfer of housing” to public administrations. Illueca has also advanced that the new flats will be dedicated to “social rent, with affordable prices for vulnerable families”.