Nicosia, Cyprus. A growing number of primary residences valued below €350,000 are being pushed to auction, according to confidential data from the Central Bank of Cyprus (CBC) submitted to parliament. The trend intensified after an early-2024 moratorium on sales of such homes was lifted.
Auctions increase after moratorium lifted
Figures obtained by Stockwatch show that in the third quarter of 2025, 98 main residences were sold at auction. Of these, 93 had a market value below €350,000 and five exceeded that threshold.
The third-quarter 2025 figure compared with five first homes sold in the corresponding quarter of 2024 and six in the fourth quarter of 2024, four of them under €350,000.
Outcomes for lower- and higher-value homes
Of the 93 lower-value homes sold in July–September 2025, 16 were acquired by third parties, while 77 were purchased by the mortgage lender six months after completion of the first auction process.
Among higher-value properties, four homes were bought by the lender through the same procedure and one was sold at the first auction.
More properties enter the auction process
More than 900 primary residences were on the auction track in the third quarter of 2025, with the majority valued below €350,000, according to the CBC’s latest update to parliament. Representatives of affected borrowers said the figures are rising month by month.
Notices sent to borrowers increase
During the quarter, notices covering various stages of the sale process were sent to 731 borrowers with homes valued below €350,000 and to 81 owners of properties above that level.
In total, 174 lower-value properties and 34 higher-value properties received a Type IA notice, which sets the date, time and place of the first public auction and must be served at least 30 days before the sale.
How might the increase in Type IA notices affect borrowers with primary residences valued below €350,000?
