Buying a cheap house in Madrid looks like mission impossible after the price rises of recent years. Even so, institutional investors keep finding assets well below the market price. Their secret: they don't look where everyone else looks.
The emerging areas of the south and the Corredor del Henares (the towns east of Madrid)
While prices inside the M-30 (Madrid's inner ring road) and in the north of the capital are prohibitive, big opportunities are emerging in outlying municipalities with new transport links. Expanding districts, reactivated pockets of land and former commercial premises on side streets are being transformed at speed.
The invisible market: auctions and bank repossessions
The quickest way to cut the cost by 20% to 40% compared with Idealista (the property portal) is to get off Idealista. Banks need to free up their balance sheets and sell entire portfolios (REOs, properties repossessed by the bank). Meanwhile, court auctions arising from mortgage foreclosures or insolvency proceedings in Madrid put up properties every day (sometimes occupied) that scare off retail buyers but are a gold mine for the informed investor.
Acquisition strategies
Analysing the assets coming from SAREB (Spain's "bad bank": what it still sells, through Aliseda) or platforms such as Haya (now part of Solvia), Servihabitat or the BOE (the Boletín Oficial del Estado, Spain's official gazette) requires a great deal of agility. By the time a property reaches the general public, the real "bargains" are already spoken for. You need to use automation to be the first to spot them.
Access to the wholesale market: RadarPro tirelessly tracks bank portfolios and BOE auctions in the Madrid region to send you instant alerts about hidden opportunities.
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