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Online property auctions resume

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Auctions of foreclosed properties are back online following a two-year freeze imposed by authorities due to the COVID-19 pandemic fallout, as 800 auctions have been scheduled for the next weeks.

According to the Interior Ministry’s database, most properties going under the hammer are agricultural land auctioned before but failed to attract interest. However, houses and plots have popped up on auctioneer’s lists this time around.

Some 800 auctions have been slotted between 9 May and 30 June, with 266 concerning the property in Nicosia.

In the Larnaca district, 171 auctions will occur, followed by the Limassol district with 165 auctions and 140 and 67 auctions of properties in Paphos and Famagusta.

Auctions are not always successful as the available properties are constantly reappearing.

Of the 266 auctions in Nicosia, 200 concern agricultural fields, while the list also includes apartment buildings, flats, shops, houses, and industrial buildings. A coffee shop in Kaimakli is also listed.

There are five flats up for grabs, located in Agioi Omologites, Aglantzia, Lakatamia, Strovolos and the Tripiotis area.

Some 30 land plots and 25 houses are also going under the hammer.

Of 165 auctions scheduled for Limassol properties, 92 involve agricultural land, 12 flats in the tourist area of Agios Tychonas and two in Mouttagiaka.

It also includes 24 houses in various areas such as Agios Athanasios, Yermasoyia, Agia Fyla, Mesa Yitonia, Kato Polemidia, Pissouri, Chandria and shops and offices in Katholiki, Ayia Napa Limassol and the central square of Omonia. It also includes a reception centre in Paramytha.

Larnaca has a long list of 171 properties to be auctioned in the coming weeks, including 106 agricultural fields, 12 houses, 12 land plots, 10 apartments, four buildings and three shops.

The list also includes a two-story house in Chrysopolitissa and another two-story house in the municipality of Aradippou.

Several flats and shops around the centre of Larnaca, Agios Nikolaos and Chrysopolitissa are also on the list.

An industrial building in Agios Nikolaos and one in Aradippou are being actioned.

Some 80 out of 140 auctions to be carried out in Paphos involve agricultural fields, while houses in Peyia, Anavargo and Anarita are on sale.

More than half of auctions, 49 out of 67, to be carried out in Famagusta involve agricultural fields, but the occasional house and flat pop up in Ayia Napa or Paralimni.