BidX1, the leading online platform for the sale of investment properties, has announced the details of the largest Cyprus auction to date, which will take place on 23 June 2022 through its digital platform.
The new list includes about 80 properties in Nicosia, Limassol, Larnaca, Paphos and the Famagusta area, with a total value of over 11 million euros.
Mr. Solon Charalambous, Senior Valuer at BidX1, commented: “We are delighted to launch our largest auction to date in Cyprus bringing over €11 million worth of properties to the market to meet the continued demand for investment properties. Buyers can choose from a wide range of properties and investment opportunities depending on their needs or available budget.”
The sought-after income-guaranteed properties in the new BidX1 catalog include a two-bedroom rental apartment in Latsia, a fully rented building in Kato Polemidia and a plot of land in an ideal location, 650 meters from Nissi beach in the tourist center of Ayia Napa offers excellent growth potential. Two adjacent fields of the famous resort cover a total area of about 12,562 sq.m.
Additional investment opportunities with high yield potential include a residential complex of 572 sq.m. in Panagia Nicosia, consisting of four apartments with a swimming pool, as well as a three-room apartment of 176 sq.m on the top floor in Mesa Geitonia Limassol is suitable for people looking for permanent residence. “The significant rise in the cost of building materials has prompted buyers to look for alternative investments and turned their interest towards ready-made properties in order to reduce their investment costs,” emphasizes Mr. Charalambous.
The new BidX1 listing also includes affordable holiday homes, including a four-bedroom home in Pahna village in Limassol, ideal for buyers looking to spend a weekend in a beautiful and peaceful location. An abundance of land – both rural and residential – is also featured on the new list, including residential plots in Politiko, Lakatamia, Agios Tychonas and Engomi, as well as land in Liopetri, Aradippou and Pareklisia.
Those wishing to participate in the online auction on June 23 must register on the BidX1 platform in advance. Registration opens June 14th. Interested bidders must provide a copy of their ID or passport, proof of address, and pay a deposit based on the starting price of the property, which will only be withheld if the bidder wins the auction on the day of the auction. Non-losing bidders will receive a 100% refund within 7 business days.
The BidX1 online platform is accessible from any device from anywhere in the world, allowing the buyer to register and bid from anywhere.
On the day of the auction, bidding will begin at the reserve price, which is the lowest price at which a property can be sold. Each offer is registered and displayed in real time on the site. Bidders are shown by number and not by name to ensure their anonymity. Successful buyers are required to complete the purchase, i.e. transfer the entire amount to the seller’s lawyer, within six to seven weeks. However, the exact completion date of the sale for each property is specified in the Sale and Purchase, which is available in the legal documents of each property.
BidX1’s experienced team in Cyprus has a deep knowledge of the local property market and is on hand to assist interested parties with any property clarification, registration assistance or property visit arrangements.