Electronic auctions reshape property sales in Cyprus

Thirty-six per cent of published electronic property auctions in Cyprus are suspended following agreements reached between borrowers and lenders, the Cyprus Banking Association said during a press conference held to present the e-auction electronic auction system.

The Cyprus Banking Association explained that the platform was developed and is managed by ACB E-Auctions Ltd, a company established in 2019 that is a 100 per cent subsidiary of the association.

It was explained that...