BidX1 scores 95% success rate at its first Cyprus auction
BidX1 reported that it sold 59 of the 62 properties offered at its first auction of property in Cyprus last week – a success rate of 95% – raising a total of €9.5m (£8.2m).
The Irish online auctioneer said that, although it received more than half a million page views from 98 countries to view the 54 residential and eight commercial properties located in Paphos, Larnaca, Nicosia and Limassol, all of the 220 bidders who registered to take part in the sale were based in Cyprus.
BidX1 recorded almost 2,000 bids during the auction.
BidX1 reported that it sold 59 of the 62 properties offered at its first auction of property in Cyprus last week – a success rate of 95% – raising a total of €9.5m (£8.2m).
The Irish online auctioneer said that, although it received more than half a million page views from 98 countries to view the 54 residential and eight commercial properties located in Paphos, Larnaca, Nicosia and Limassol, all of the 220 bidders who registered to take part in the sale were based in Cyprus.
BidX1 recorded almost 2,000 bids during the auction.
A four-storey block comprising a shop and four offices in Agios Georgios, Limassol (pictured), was one of the highest-priced lots to sell, eventually going under the hammer for €910,000 after being guided at €600,000.
“The launch of BidX1 in Cyprus marked an important moment for the property market, and having spent the past few weeks meeting potential buyers at viewings and discussing the assets with them, I’ve experienced first-hand the appetite for an alternative to the traditional transaction model,” said Kritonas Onisiforou, senior surveyor at BidX1 Cyprus.
