KEDIPES

KEDIPES is the Cyprus Asset Management Company — the state-owned vehicle that took on the loan book of the former Cyprus Cooperative Bank. That origin explains the volume: it is working through a decade of non-performing loans, and the property behind them has to be sold.

What you can buy

• Residential property recovered as loan collateral.
• Commercial premises.
• Land and plots.

How the bidding works

Two channels run side by side. The electronic auction is the bidding platform proper. Alongside it sit auction notifications published per district — Nicosia, Larnaca, Limassol, Pafos and Famagusta each have their own page, which is how Cypriot auction notices are traditionally organised. A separate tender procedure channel handles larger disposals, and properties are also marketed through the company's collaboration with doValue Cyprus.

What to check before you bid

Title is the question that decides a Cypriot property purchase, and on a distressed asset it is rarely simple — separate title deeds, outstanding developer charges and existing occupancy all appear regularly. The auction notice states the position; a lawyer should read it before you bid. The site runs in Greek and English.