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All reports tagged with: "auction"

Cash-rich banks stockpiling real estate

Cash-rich banks are stockpiling properties as they turn to buy real estate linked to mortgages of defaulted borrowers as banking institutions dominate the property market.

First auction of foreclosed properties

The first online auction of foreclosed properties will be held Wednesday morning kicking off at 10:00 and continuing for two hours unless a one-hour extension is granted when 16 properties will go under the hammer.

Online property auctions to combat NPLs

An online auctions platform has been launched designed to increase the sale of mortgaged properties whose owners have defaulted on their loan agreement and before a foreclosure has taken place.

Banks buying properties failing to sell at auctions

The banks have bought nearly 650 properties that failed to sell at the first round of auctions since the start of 2018 according to information submitted to parliament by the Cyprus Central Bank.

Property auction process may get harder for banks

Opposition parties trying to introduce legislation designed to slow down the property auction process by introducing twelve points, but have yet to get the required majority for it to pass.

Cyprus Property worth millions under the hammer

Many millions of Euros worth of Cyprus property in all the districts comprising houses, apartments, commercial properties and plots of land and fields land are set to go under the hammer in June.

House repossessions at a low ebb

Although recent changes to the law have been made in efforts aimed at helping the Cyprus banking system to reduce high levels of NPLs, house repossessions are still at a low ebb according to Central Bank data..

Flood of foreclosure letters

Phileleftheros reports that during the second quarter of 2018 banks sent almost double the number of letters warning borrowers that they intend to foreclose compared to the first quarter.

July property sales up 26 per cent (Updated)

The number of properties sold in Cyprus during July rose by 26 per cent compared to July 2015 according to the latest official figures published by the Department of Lands and Surveys.

Little interest in Cyprus property auctions

The auctions by the Bank of Cyprus of ten properties valued in excess of €2.3 million got underway last week with just three of the seven plots in Paphos being sold yielding a total of €1.05 million.

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