BidX1: Sale of almost €9.5m worth of real estate in Cyprus

BidX1, the digital marketplace for real estate, took another step forward in its international expansion with the sale of almost €9.5m worth of real estate in Cyprus yesterday. The transparent process of purchasing assets has proven popular since it was officially launched in Cyprus in September, clocking up more than half a million-page views from 98 countries.

There were over 220 bidders registered for the sale yesterday, all of whom were based in Cyprus, and BidX1 recorded almost 2,000 bids. All of these bids, as well as the final sale price for each asset, are displayed publicly on the BidX1 platform, underlining the transparency of the process.

The award-winning digital property marketplace launched operations in Cyprus earlier this year, assembling a team of specialist commercial and residential experts with in-depth knowledge of the Cypriot property market, led by Kritonas Onisiforou.

Based in Nicosia, Onisiforou’s team oversaw yesterday’s sale of 55 properties in locations like Paphos, Larnaca, Nicosia and Limassol. The diverse range of assets highlights the flexibility of the BidX1 digital marketplace – sales includes apartments and villas; shops, offices and commercial blocks; as well as land with development potential.

Commenting on the inaugural sales, Mr. Onisiforou, said: “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.”

“The property market in Cyprus is particularly dynamic, and the results underlined this. Liquidity on our platform yesterday was €36.2m, indicating a significant demand for additional opportunities.”

“The BidX1 digital marketplace makes the buying and selling of real estate as efficient as possible and the local market has embraced the model, leveraging its efficiency, transparency and accessibility. As in all the markets we operate in, our long-term goal is to revolutionize the property sector, facilitating property trading through our proprietary technology and industry-leading property expertise.”

BidX1 currently operates in the UK, Ireland and South Africa. To date, the company has sold €1.6 billion of properties, with €800m sold on the digital platform in the last three years. Operations in Cyprus and Spain were launched this year and the first sale of Spanish property will take place next week, on 30th October. More than 100 properties are being offered: https://bidx1.com/en/spain. Further expansion into new markets is planned for 2020, including Greece, Portugal and Italy.

New properties in Cyprus will be available on the marketplace in the coming weeks, and all of yesterday’s sales can be viewed at bidx1.com. The Cyprus team can be contacted on 22 000 380 / [email protected].