Insider Business New properties auctioned all the time

New properties auctioned all the time

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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