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BidX1 Launches New Property Catalogue For Digital Sale On July 29

BidX1 Launches New Property Catalogue For Digital Sale On July 29

Property investment firm BidX1 has launched the catalogue for their upcoming digital sale on 29 July 2020. Currently available on both the platform and the BidX1 App, the latest selection features over 30 investment assets, totalling approximately €5m.

 

Head of Property at BidX1 Cyprus, Kritonas Onisiforou, notes that the catalogue mostly features fields and plots, but also a number of apartments and houses, as well as commercial shops.

 

“Once again we are offering a mix of investment opportunities around Cyprus, across a range of price points.”

 

The new catalogue follows a successful auction on 8 July. The BidX1 team in Cyprus oversaw the sale of a wide selection of assets, both residential and commercial, raising more than €5m. Over 150 bidders took part on the day. All 743 bids are displayed publicly on the BidX1 platform, along with the final sale price for each property, underlining the transparency of the process.

 

Notably, BidX1 have reported that the total liquidity available at the auction was €13m.

 

Commenting on the sale, Onisiforou said that, “Participation in last week’s auction exceeded expectations. The total liquidity available was €13m, calculated by totalling the highest bid from each unsuccessful bidder. This is a significant figure as the amount that each under-bidder was willing to pay for a property provides an indicator of the level of unspent capital in the market on auction day. This is a positive sign for the property sector, which has faced significant challenges in recent months.”

 

Onisiforou attributes last week’s sales to pent-up demand for investment property following the lockdown, but also a growing confidence in online property transactions, a trend which BidX1 believe has been accelerated by Covid-19.

 

To bid on a property in the auction on 29 July, interested parties must pre-register on the BidX1 platform or the BidX1 App, providing proof of identification and proof of address, as well as a deposit that will be retained only if the bidder is the successful purchaser on the day of sale. Unsuccessful bidders will receive a full refund within 7 working days.

 

BidX1’s local team of commercial and residential specialists are available to discuss the properties or assist with registration.

 

To get in touch with the BidX1 Cyprus team, please call 22 000 380 or email info@cy.bidx1.com

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