Homes for Gota Fria victims on the Costa Blanca

AGREEMENT: Mayor María Gómez García and Sareb's Director of Corporate Social Responsibility, Gaspar González-Palenzuela signed a contract. Credit: Aymto. De Almoradi.  

BAD BANK Sareb has signed an agreement to temporarily transfer 15 homes to Almoradi council. 

The town hall will use the houses to accommodate families who have had to leave their homes after the heavy rains that left much of the Vega Baja flooded in September. 

The agreement, signed by Mayor María Gómez García and Sareb’s Director of Corporate Social Responsibility, Gaspar González-Palenzuela, agrees to assign the properties in temporarily for six months, extendable up to a maximum of four years, if agreed by both parties. 


The recipients of these homes will be selected by the council and will be families who have not yet been able to return to their own homes because of the severe damage caused in the storm. 

Sareb will receive a fixed monthly payment of €300 euros per house. The Town Council will assume the costs of management of the properties, possible repairs and the registration of services supply contracts, while Sareb will pay for insurance, community fees, and license of first occupation and certificate of habitability where needed. 

Both parties agreed to set up a Monitoring Committee to evaluate the degree of compliance with the objectives of the agreement. 

Sareb was set up at the height of the banking/financial crisis to take on bad debts from other banks and is sitting on a stock of thousands of repossessed properties it is gradually selling off. 





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