Public banks are loaded with properties for sale
February 10th, 2012 | by admin |Publicly owned banks are loaded with real estate properties including lots, houses, and buildings, which were removed from their owners due to loan foreclosure. Banco Nacional, Banco de Costa Rica (BCR), Bancrédito and Banco Popular presently hold portfolios equal to ¢ 81.1 billion ($160 million). The international financial crisis and its effect on the local property sector is cited as the cause. Most of the foreclosed properties are on the northern Pacific coast.
