BidX1 sees global success following Spain and Cyprus sales
BidX1 has created a unique position as a digital property marketplace with almost €40m sold in the last three weeks through the proprietary digital platform. BidX1’s inaugural sales in Spain and Cyprus coincided with successful sales days in Ireland, UK and South Africa. These sales attracted 3 million digital visits from over 180 countries, with bidders in 23 countries totalling over 5,000 bids.
Speaking on the expansion of the company, BidX1 founder & CEO Stephen McCarthy said: “This is a hugely exciting time for BidX1, with our proprietary platform and wide range of in-house industry expertise delivering a differentiated proposition to the market enabling us to broaden our global footprint.”
The success of the Spanish and Cypriot launch further proved that the platform can manage the sophistication of varying regulations, languages and cultures involved with international expansion. This was achieved in a period where BidX1 managed sales events across all its five operating territories."
Mr. McCarthy added: “Interestingly in Spain there was a strong range of properties from Madrid to Barcelona, and the Balearic Islands on offer. The highlight saw a UK bidder buying a property located in Alicante, whilst he was in New York, conditionally purchasing the property using his mobile device. This proves the platform’s flexibility which can facilitate local transactions in a global marketplace”.
The Spanish residential sale saw over 1.2 million views with particular interest from investment buyers. Another highlight was the sale of four apartments in Barcelona for over €0.5million. The commercial stand-out sale was an eight-storey office block in Alicante for almost €1 million. In Cyprus the sale of a development asset close to Pomos Harbor on the west of the Island attracted 12 local bidders and generated 150% over reserve. Finally, in South Africa, there was intense bidding for a five-bedroom property in the Ransburg area of Johannesburg which attracted bids from five local SA bidders.
To date, BidX1 has sold almost €1.7 billion of properties, with €850m sold on the digital platform in the last three years. Not only has the company seen strong growth in the property market, BidX1 has almost doubled to over 100 people, since the beginning of 2019.
Further expansion is planned for 2020, in Greece, Portugal and Italy.