Housing auctions in Granada and Cantabria see high rates of zero bids

A study by Subastas de Viviendas regarding property auctions listed in the Official State Gazette (BOE) reveals significant numbers of housing lots in certain Spanish regions are failing to attract bidders.

In Granada, 35.5% of analyzed housing auctions ended without any bids, a figure that is 4.2 percentage points higher than the national average of 31.3%. In cases where bids were placed, the median maximum bid in Granada was 66% of the auction value. Additionally, the study noted that in 97 out of 101 results consulted in the province, the possessory status of the property was not specified.

In Cantabria, the situation is even more pronounced within the study's sample, where 65.7% of the 70 analyzed lots received no bids. Nationally, across Spain, 1,168 out of 3,732 analyzed results ended without offers. The study highlights that Teruel (87.2%), Cantabria (65.7%), and Lleida (55.6%) recorded the highest proportions of auctions without bids among provinces with at least 40 results.