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Cyprus BidX1 Sale

€10m worth of Cypriot real estate sold at BidX1’s 2nd digital sale

PropTech leader BidX1 had another successful auction in Cyprus this week, generating €30m in liquidity on its digital property marketplace. Over 330 bidders, the majority of which were Cypriots, registered for the auction.

The BidX1 team in Cyprus oversaw the sale of a diverse range of properties, both residential and commercial, in Nicosia, Limassol, Paphos, Larnaca and Paralimni, including investment opportunities and assets with development potential.

Out of 67 Lots that were offered via auction, 62 were sold, raising €10m. All bids, as well as the final sale price for each asset, are displayed publicly on the BidX1 platform, underlining the transparency of the process.

Commenting on yesterday’s results, Head of Property at BidX1 Cyprus, Kritonas Onisiforou noted:

“We are very pleased with the results of our second auction, and the level of engagement from buyers. We aim to bring greater transparency and efficiency to the markets in which we operate, and we’re delighted that Cyprus has embraced BidX1’s innovative methods of marketing and transacting real estate.

"We also have a number of attractive assets available via Digital Private Treaty which we would encourage interested parties to view here, and on which an offer can be made at any time.”

The award-winning digital property marketplace launched operations in Cyprus in 2019, facilitating property transactions through its proprietary technology and industry-leading property expertise, as well as the in-depth knowledge of its local team of commercial and residential surveyors. 

Earlier this year, the company introduced another method of transacting property through the platform: Digital Private Treaty. While Private Treaty is the standard method of sale in Cyprus, BidX1 are offering a more transparent, stream-lined, digital version of the process.

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