in the province of Belluno the foreclosed assets are worth almost 40 million euros

in the province of Belluno the foreclosed assets are worth almost 40 million euros
in the province of Belluno the foreclosed assets are worth almost 40 million euros
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BELLUNO – Foreclosed houses, for sale in rock bottom prices and many of which also ended up on sale with discounts of almost 60 percent compared to the initial auction base. Base which, usually, is already strongly below the value of esteem of the property.

Houses and hotels at auction

The photograph of a province increasingly in difficulty, but also of how the sacred brick of the past has now become the nightmare of those who may find themselves inheriting the old house of their grandparents, can be seen on the portal of judicial auctions “Bodies and Courts”. A long list of real estate, especially for civilian use, ended up in the foreclosure network. People who have not been able to pay off a debt and who have therefore been deprived of the primary asset on which every family it counts, especially in the Belluno area where the pride of building a house has been one of the engines of the great ones migrations of the last century. Over 210 properties have ended up at auction with a good concentration in the area between the capital city and Limana which is now its immediate outskirts, synonymous with convenience for those who work in the city.

Property at auction, how it works

Overall, the value that the state and the banks are competing for is almost 40 million euros, that is to say, making an average of “chickens”, about 200 euros each for each inhabitant of the province. This is obviously thetotal calculated on the auction base of each property and not on the estimate, but above all it is a random value because the prevalence of those properties is hardly sold. Just browse the publication dates of the first auction to understand how even the houses on sale are not inviting. Some even date back to 2015, which means that no one has come forward during the various banning attempts. Meanwhile, the property continues to drop in price. And to remain unsold.

Apartment for sale for less than 20 thousand euros

TO Limanafor example, there is an apartment for sale for 14 thousand euros, but since 2018 no one has come forward. And also in Limana there is another one for 10 thousand euros, also in this case unsold since 2019. Still remaining in the area, in the part of the “sales”, you can find a brand new apartment for 52 thousand euros, a figure discounted by 58 percent compared to the initial request of 125,100 euros still advanced with the first auction in June 2019. Still in Limana we find two other discounted housing units, both of 44 percent for a total sale down to 11 thousand euros. Figures that come close to some garage for sale in Ponte nelle Alpi, and these too have remained unsold for 10 years. Even in the mountains there is no business: in Auronzo, in fact, an apartment of 95 square metersinitially auctioned for 230 thousand euros, has been on the list since 2012.

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Houses in Val di Zoldo

And then there is a chapter on hotels: in Val di Zoldoin via Pecol Nuovo 7, a hotel dating back to the Eighties with an estimated value of 1 million 880 thousand euros is up for auction 1 million 57 thousand euros with a minimum bid of 793 thousand euros. Another is located in Farra, in Alpago, in via Calvi, at auction for 250,740 euros, out of an estimate of 445,760 euros, with a minimum bid of 188 thousand euros. Another historic hotel is that of 4 Valleys in Faè of Longarone for some time on sale but still standing: the base price is 230 thousand euros. The list is long and there is no shortage of commercial properties or even entire residential areas. Only the buyers are struggling to arrive.


The article is in Italian

Tags: province Belluno foreclosed assets worth million euros

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