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REAL ESTATE

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€3,3m Worth Of Real Estate Sold Last Week At Bidx1’s Digital Sale

€3,3m Worth Of Real Estate Sold Last Week At Bidx1’s Digital Sale

BidX1, the digital property investment platform, held another successful auction in Cyprus last week, with over 100 bidders taking part. 26 properties were sold, raising €3,3m.

 

All 526 bids were logged and displayed in real-time during the auction, underlining the transparency of the process. These bids, and the final sale price for each asset, can be viewed on the platform or the BidX1 App.

 

The firm intends to hold an additional digital auction this Wednesday 14th October, and interested parties can register for bidding now.

 

The BidX1 team in Cyprus oversaw the sale of a diverse range of properties at last week’s auction, both residential and commercial, in Nicosia, Limassol, Paphos, Larnaca and Famagusta, including investment opportunities and assets with development potential.

 

Notably, the firm is still reporting a high-level of liquidity in the market. While €3,3m-worth of property was sold last Thursday, liquidity on the platform that day was almost double that amount, at €6,57m. Calculated by totalling the highest bid from each unsuccessful bidder, this figure essentially represents the amount that each under-bidder was willing to spend, an indicator of demand in the market.

 

Commenting on the results, Head of Property at BidX1 Cyprus, Kritonas Onisiforou noted: “It’s positive to see demand in the market, as evidenced by our sales in July and last week, as well as the continued engagement with our novel approach to property sales. Combining real estate expertise with cutting-edge technology is the future for the property industry.”

 

Onisiforou recently re-emphasized the importance of digitalisation for the property industry, during a speech delivered at the 14th Annual Real Estate Conference in Nicosia.

 

To take part in the additional auction this Wednesday, interested parties must pre-register on the platform, 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.

 

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

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