Online auctions helping banks offload properties
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....
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Article automatically added to our system on Friday, February 21, 2020
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