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New properties auctioned all the time

July 29, 2019 at 8:52am
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Banks and asset management companies have put on the market new plots of land, offices and shops throughout Cyprus with prices ranging from a few thousand to millions.

In fact, Altamira which manages the non-performing loans of the collapsed Cyprus Co-op bank had a total of 155 plots of land up for sale last week, alone. The prices ranged from €19,000 to €100,000.

APS which manages Hellenic Bank’s non-performing loans has a list of properties which are as small as narrow strips of land ranging from €350 to €2,500 to luxury apartments and development projects for big investors.

And Bank of Cyprus’ REMU (real estate management unit) has up for sale a multiple-use building right on Acropolis Avenue in Nicosia at the price of €410,000. Plus, an office on Makarios Avenue in Nicosia at the price of €475,000, two stores on Makarios Avenue priced at €1,235,000, and twelve fields at Fasouri area, Limassol, at the opening price of €2,500,000.

REMU also has another 37 fields at Fasouri area at the total price of €5,850,000. In addition, a plot of land at Trahoni area is sold for €4,800,000 and another at Asomatos area for €1,200,000. As well as four plots at Akrotiri, Limassol, at the opening price €580,000.

At the same time, Altamira had residential plots of land for sale within the Nicosia district last week. Prices started from €19,000. Also, a  residential plot at Kalo Chorio Orini at the opening price of €24,000,  and a plot of land in Ayios Trimithias, Nicosia, at the opening price of €25,000.

Properties that stand out in other districts of the island includes a residential plot in Mazotos, Larnaca, with an opening price of €36,000. And in Limassol, at Pera Pedi village area, there is a residential plot of land as big as 401 square metres up for sale at the opening price of €37,000.

 

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Banks buy what fails to sell at auctions