€4,6m worth of real estate sold last week at BidX1’s digital sale

Leading property investment platform BidX1 held another successful auction in Cyprus last week, generating €12.2m in total liquidity on its digital property marketplace.  In total, over 140 bidders registered for the auction, with a total of 408 bids placed.

The PropTech specialists will hold one more auction this year, which will take place on Wednesday 16th December. The catalogue for this sale will be launched in the coming days.

Last week, the BidX1 team in Cyprus oversaw the sale of a wide range of properties including agricultural fields, development land, houses, and apartments, as well as commercial investment opportunities in Nicosia, Limassol, Larnaca and Paphos.

30 properties were sold, raising €4,6m. 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 last week’s results, Head of Property at BidX1 Cyprus, Kritonas Onisiforou noted:

“We are very pleased with the results of this auction and the level of engagement from buyers. 2020 has been an unprecedented year for everyone, and as result of the current pandemic, consumers have had to adapt quickly to a digital world.

“We firmly believe that cutting-edge technology is the future of the property industry, and at BidX1 we combine a leading digital platform with deep real estate expertise. Always looking to innovate and improve our service, we are now focusing on bringing greater transparency and efficiency to the markets in which we operate.”

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

In early 2020, 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.