Online auctions helping banks offload properties

Click For Larger Image & Read More
Online auctions helping banks offload properties
 © FinancialMirror 2020
Online auction of properties acquired by banks, mainly through debt-to-asset swaps to reduce their toxic loans, have started to take-off as many more are being sold off.

A private online platform, BidX1 held its second online auction of Cyprus property, selling 59 out of 66 properties going under the hammer for €10 mln.

A banking source confirmed that these properties belonged to the banks.

Some 25 residential properties, including flats and villas, were on the list, along with plots of land and a small number of commercial real estate.

...


Read all latest: Cyprus Coronavirus News Updates - Live

This article was automatically added to our system 21-2-2020

Online auctions helping banks offload properties


The contents of this article including any associated images are © FinancialMirror 2020
Views & opinions expressed in this article are those of the author and/or FinancialMirror .

  • Click Here
Advertise Here

  Trending Cyprus News

  • Click Here
Advertise Here

Article Tags: online, auctions, helping, banks, offload, properties,