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BAMC is becoming a more and more strong player at the housing market. Foto: BoBo

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Bad bank not only selling, but also purchasing real estate

Next week the new stage of sale of Celovški dvori apartments
10. January 2017 ob 12:08
Ljubljana - MMC RTV SLO

The Bank Assets Management Company (BAMC) has joined the busy real estate trading, and is even somewhat increasing its real estate portfolio with purchases, not only sales – with the sole purpose of achieving higher prices later on.

The new real estate managing director Andrej Laza attributes the increase of sale by BAMC during the last half of the year to the solved legal complications, and improved conditions at the market: "A turn has actually happened at the market, influencing the housing real estate, while I expect the similar turn to happen for business real estate soon."

Best offers from domestic buyers
In the past a lot had been said about the interest of medium-sized foreign foundations, but it turned out that the bad bank was given the best offers for real estate from domestic buyers. "In my opinion the domestic buyers are the most familiar with the domestic real estate, while foreign foundations approach the market with certain risk, without the knowledge of the legal system, and therefore probably expect larger discounts," Lazar explains.

Bad bank purchased land in Kranj for 1.88 million
BAMC has upset a part of the investors who at the occasion of numerous auction sales stand in line in order to purchase real estates, and then face the bad bank. Just before the beginning of the new year the bad bank bought a plot next to Qlandia for € 1.88 million, counting on selling it later for a higher price.

Next week the second stage of sale of Celovški dvori apartments
The reason for BAMC purchase was their conviction that the land would be otherwise sold too cheap, below their estimates. BAMC is becoming a more and more strong player at the housing market as well. One quarter of the apartments of the Koper Nokturno have been sold already, and the first 56 units of the Celovški dvori apartments.

Maja Derčar, Radio Slovenija; translated by G. K.