"Realtors" for 100,000 real estate banks

Nina Malliara

In a project of equal or more importance than the reduction of “red” loans, “active management” of collection buildings – in agreement with SMA – is an improvement for banks.

In the next three years, banks will have to manage assets of some 100,000 buildings, because the dock already provides nearly 30,000 buildings. As they get real estate auctions, they are predicted to get at least 65,000 other buildings by the end of 2021. Depending on the "K" information, each month, there will be around 300 auction buildings. to all banks.

In the banking sector, property management is currently at the highest level and at the same time, is linked directly to the lowering loan strategy that is not performing.

All banks link fever with estate management companies to:

– Clarify and structure properties that are for sale.

– Launch an overall stock management strategy.

– Organize a detailed account of all loan loan tasks.

Banks in the "K" say that estate management is very important because it can bring greater value to the banks. Banks therefore prefer to sell direct prizes, because the purchaser has the opportunity to get the right estate value in the future, which is even bought with a large discount.

The same executive officers note, however, that real estate management is not an easy regulation and has no direct impact. For properties that receive banks' auctions, and if the complainant has not made a complaint, it needs for a period of ten months for the building to reach the bank balance sheet and at least two years to be used. and re-sold. In terms of a genuine estate that the bank already has in its investment, it is estimated that the space required for its management is by particular companies is three years old.

Continuing trends

There is a current transition at bank stage. Information K shows that Alpha Bank has recently established a specific unit, AREMI (Real Estate Funding Information), which will manage the 7,000 properties in the bank. The National Bank is expected to report action of an estate owners group to be transferred to an estate management strategy supported by a specialist overseas company. The Ethniki pack includes a fund of its own 180-year history, depending on the information 1,300. At the same time, in the last year, the Bank went on to 1,700 auctions from which he got most of his estate.

Eurobank has recently agreed to sell its estate services, Eurobank Property Services (EPS), to the Italian Cased group. According to the "K" information, Cerved will govern 70% of the Bank's buildings, and for the other 30% there are conversations with two specific designated directors.

It is expected to complete the contract in the first quarter of 2019 by receiving the total EPS capital capital for a sum of € 8 million. In total, the agreement could reach € 13 million, as an additional sum of up to € 5 million will be paid in addition to the original price if certain financial outputs are achieved within the t until 2023.

Under the agreement, EPS in Greece and its subsidiary undertakings, Eurobank Property Services S.A, will be given a full-fledged EPS in Greece. Romania and Property Services ERB D.O.O. Belgrade in Serbia, with Eurobank.

It is noted that the Greek EPS is designated as the main provider of estate services for Eurobank for the next five years. The procurement agreement includes the regulation of buildings and sewage activities in an Eurobank folder with current and future flow of the real estate in relation to non-discharged emissions for support purposes. the removal process. At the same time, EPS makes a three-year agreement with a device for automatically renewing up to a further two years for the provision of estate services to Eurobank.

For Piraeus Bank, because of a union of one bank, the main building sector at this time. Ownership loans represent bank loans equivalent to around EUR 23 billion, of which half are in the portfolio of the Piraeus Legacy Unit. In this context, the way the Queen manages his estate is directly connected to the wider planning to reduce risks.

Piraeus Bank in private buildings in Attica and North Greece include about 50% of the Bank's stock of stock. The last inhabitants in recent years received around 5,600 properties (2,200 dwellings, 1,600 commercial, 400 businesses and 1,400 plots). The market value of these properties was measured by figures for the 2018 third quarter at around EUR 1 billion.

It is noted that Piraeus Bank has redeveloped its real estate through its management of Real Estate Piraeus and the electronic building platform4sale. Through the platform, a real estate auction was carried out, last in January 2019. It is noted that Piraeus Real Estate is also the good property assessor (RICS) in Greece. Indeed, it has also been estimated to take over the estimated 2,500 OTE properties.

Piraeus Bank estimated estimates, in the three years 2019-2021, that the value of its property portfolio will increase by 700 million Euros through a genuine estate being sold.

Real estate targets

The bank's "warning" will be held at the same time as the start of a review of their performance in the management of their estates, and henceforth with control of each quarter.

By the end of March, banks will first introduce a SSM for managing property over the next three years. It is claimed that SSM had been agreed with the banks for most of the estate they had bought to buy and that this has happened to approximately 80% of the sales estate. However, investment with banks with banks has set time limits. As the "K" is written, SSM is limiting its boundaries just over three years, although banks have been looking for a five-year allowance to hold an actual estate on their records.

According to "K" information, all four banking banks have already contacted SMF, in the process of complementary renewal, that each will be paid in the balance with a further 5,000 estates. According to the same information, SSM has requested that a triennial calculation of the cost of these buildings be carried out over a three-year horizon and received the response that this cost is estimated at 3.50%. This is a 1.5% financing cost for the period when buildings live in bank books and a 2% maintenance fee (for maintenance, payment of taxes etc.).

On the other hand, as banks report to SSM, these buildings are powerful assets that can deliver enormously to banks, when the weather is getting better and rising in economic rates. According to "K" information, the banks estimate that by this year 2.2% in GDP, the estate prices will rise by 2.6%. An increase of 3.2% and 3.6% in estate prices is expected to increase by 2.4% in 2020 and 2.5% in 2021. It should be noted, however, that GDP is not the only demand for the real estate market to grow steadily. At the same time, we need more interventions to improve the horizons, improve visibility and simplify procedures, to create a more friendly investment environment and ensure a sustainable and sustainable regeneration course. ultimately development of the property market.

Demand and prices

Already, the official data from the Greek Bank on real estate prices shows statistics and small trends. At the same time, the extension of Airbnb will help banks for the first time this year, reduce the losses recorded in previous years from property investments and even record small profits.

As recorded in the Greek Bank's Financial Policy Interim Report, during the period from January to November 2018, more vigorous areas in the building market became a tourist-related practice, and went into administration. also highlight an interest in high-quality investment buildings, particularly in the wider region of Athens. On the other hand, negative problems in the residential and professional building stock were still low, due to the level of drunkeness and deterioration in disposable income and GDP over the last decade.

In particular, the housing market is showing local sustainability and regeneration indicators. According to the data collected by the banks, in the nine months of 2018, house prices (in nicknames) increased by 1.3% per year, compared with a 1.2% decrease in the same period from 2017. t combined with the increase in house prices for the country as a whole there was a 2.1% rise in house prices in the Athens area, and in Thessaloniki it was reduced to 0.8% in other main towns and other areas. of the country at 0, 7%. There is an interest in residential property investment interested in the investment of residential buildings which, in particular through short lease agreements, are now a new fast growing sector of the market.

A gradual development of the property market is reflected in appropriate indicators. In particular, residential investment increased by 12.3% in nine months 2018, although it is still at a low rate of GDP (0.7%). In January-August 2018, residential building permits, as registered by ELSTAT, increased 24.3% and 21.1% in volume volume. At the same time, an IOBE business register of residential properties developed, recording an increase of 21.7% in the 11-month period of 2018.

Additionally, according to data from the Athens Land Registry, the number of transactions for 11 June 2018 is considerably strengthened. In the first half of 2018, the estate sector recorded real, positive trends in the office market and in the closing market. For the country as a whole, higher office and store prices recorded an increase of 3.5% and 2.1% compared to the second half of 2017, with higher levels of growth in Athens, 4.6% and 4.0% respectively (provisional data). ).

It is noted that the offices and shops show diverse rhythms and trends at local level, showing the different trends in individual positions and market sectors. The investment interest recorded in the last two years continues in the early months of 2018, with an emphasis on hotels and tourism related practices. Both Real Estate Investment Companies (REITs) and other property developers and building developers have invested substantially in tourism across the country as well as high quality professional sites in Attica.

Meanwhile, international hotel chains and tour operators have strengthened their presence in the Greek market. According to the "K" directors of property management companies, only 2,000 new hotel beds are expected to come to the Attica market.

Their focus on occupations of particular sectors is also evident in the development of construction activities during the first eight months of 2018. More specifically, hotels record a high rate of growth in new building licenses (64.7%). A positive change was recorded for new office licenses (11.7%), share a wait at negative levels until the end of 2017.

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