Cyprus Property News for home buyers and real estate investors

Monday 12th April 2021
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Tag: loans

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.

Banks to offload €4 billion NPLs

The Bank of Cyprus and the Hellenic Bank will sell non-performing loans (NPLs) worth €4 billion by the end of February enabling them to dispose of more than 10% of their problematic loans.

Estia applicants hit 50% of eligible borrowers

Applications for the Estia programme, which aims to assist home owners with non-performing mortgages by providing government support, have been submitted by more than 50 percent of those eligible.

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.

BoC to repossess non-Estia protected properties

The Bank of Cyprus (BoC) will repossess properties if their owners do not apply for protection under the Estia scheme; it's only received 487 applications from an estimated 2,500 eligible owners.

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