Insider Business Properties in Nicosia within the walls on sale to cover debt

Properties in Nicosia within the walls on sale to cover debt

A number of properties in old Nicosia are in the hands of the banks and some are due to go on auction soon and others are available through the banks’ property uits, Phileleftheros reported on Monday.

It said that some of the properties were handed to the banks in exchange for debt. Others have been repossessed and are due to go on sale.

In May, a shop in the Omeriye area of Nicosia within the walls is being put to auction by the Bank of Cyprus for €38,400.

BoC’s Real Estate Management Unit (REMU) is also selling a semi-detached building near Chrysaliniotissa Church  in the Tachtakalas area for €406,000.

A commercial building on Onasagorou Street, about 150 metres from Eleftheria Square is for sale for €480,500. A commercial building in Ayios Savvas  is for sale for €522,500. A two storey building  used a bar in the Ayios Savvas area is on sale for €582,500 while a section of a mixed use building at the start of Ledra and Onasagorou streets is on sale for  €651,000.

A  commercial building west of Ledra Street and north of Eleftheria Square within the walls is for sale for €716,000 and a mixed use building on Rigenis Street for €934,000. A commercial building on the corner of Onasagorou and Sofocleous in Phaneromeni is selling for €1,330,000 while a commercial building on the corner of Ledra, Rigenis and Fokionos street is selling for €4,175,000.

Also on sale is a two bedroom apartment within the walls for €53,000, a three bedroom for €73,000 and another three bedroom for €84,000.

Hellenic Bank’s portfolio in the old town includes a 60 square metre shop in the Phaneromeni area for €132,400 and a 104 square metre shop in Tripiotis for €182,000.

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