Nicosia, Cyprus. A growing number of primary residences valued below €350,000 are being pushed to auction, according to confidential Central Bank of Cyprus (CBC) data submitted to parliament. The trend intensified after a moratorium on sales of such homes was lifted in early 2024.
Auctions in the third quarter of 2025
According to figures obtained by Stockwatch, 98 main residences were sold at auction in the third quarter of 2025. Of these, 93 had a market value below €350,000 and five exceeded that threshold.
The total represents a sharp rise from the corresponding quarter of 2024, when five first homes were sold, and from the fourth quarter of 2024, when six were sold, four of them under €350,000.
Who bought the homes
Of the 93 lower-value homes sold in the July–September 2025 period, 16 were acquired by third parties, while 77 were purchased by the mortgage lender six months after the completion of the first auction process.
In the higher-value category, four homes were bought by the lender through the same procedure and one was sold at the first auction.
Properties on the auction track
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.
Increase in notifications
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 do you think the rise in auctions of primary residences will affect borrowers in Cyprus?
