Apartments under € 100 000 are for sale in Cyprus

Квартиры на Кипре стоимостью ниже €100 000: такое возможно?
17 November 2020 Angelica Michael
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Banks of Cyprus are auctioning apartments worth less than €100 000, seized from insolvent borrowers.

 The Apartments are located in different parts of the island. According to the list of objects published by the Cyprus Ministry of the Interior's relevant department, even people with a limited budget can now purchase an apartment. All apartments are "secondary housing." They are studios as well as one and two-bedroom apartments.

Thus, Hellenic Bank is putting up for sale by auction a two-room apartment of 100 m2 in Nicosia on Kennedy Avenue worth €89 200 and three apartments in the prestigious Plati Aglandjas area with beautiful views of the city and mountains. There is an apartment, the initial cost of €31 600, and several apartments in Larnaca, in Geri and Sotira.

The Gordian company offers apartments from €70 000. Apartment on the street Kiriaku Matsi in Nicosia with an area of ​​144 m2 will cost a lucky buyer only €85 000, and the starting price for a massive apartment in Strovolos with an area of ​​219 m2 is only €90 000. There is also an enormous selection of small apartments in Paphos; prices start from €40 000. In the 2020 year, real estate is being seized, loans for which were recognized as non-performing at the end of 2019 - the first months of 2020, before the start of the pandemic.

Квартиры на Кипре стоимостью ниже €100 000: такое возможно?

Great deals can be found at the Bank of Cyprus. Prices for spacious apartments with one or two bedrooms, located in different areas of Nicosia, Larnaca, and the villages, start from €51 400.

In total, 800 electronic auctions and 562 offline auctions will occur in Cyprus in the coming month. In general, in 2020, it is planned to withdraw 1,071 land plots and 268 houses and apartments that are not the first or only housing of insolvent borrowers. We talked about country houses, apartments, and houses that the owners rented out but did not pay the banks. And also about expensive real estate, which is challenging finding buyers or tenants.

In 2020, 117 commercial land plots and 106 commercial real estate objects (shops, offices, warehouses, etc.) were seized.

In 2020, the property is being seized, loans for which were recognized as non-performing at the end of 2019 and the first months of 2020, before the start of the pandemic. Since the beginning of the pandemic, the seizures of mortgaged real estate have been suspended and are not being made today.

Source: philenews.com
Photos: Pixabay.com
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