CIB Selling Real Estate Online

  • 11 Sep 2018 8:44 AM
  • Hungary Around the Clock
CIB Selling Real Estate Online
Recovery, the subsidiary of the CIB group which sells buildings taken over by the bank after failed mortgage repayments, is selling properties online for the seventh occasion, the bank group announced on Monday.

Most of the 50 properties on offer are retail units with a price tag below Ft 250 million.

The online auctions last for a month but a fixed-price instant purchase function will be in effect from September 17.

If selling the buildings at the instant price fails then a 27-hour auction starts on October 8 with prices reduced to 65% of the instant price.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

Explore More Reports

  • Research Reveals Hungarian Real Estate Ad Market Leader

    Research Reveals Hungarian Real Estate Ad Market Leader

    • 1 Oct 2018 1:02 PM

    Who rules online real estate ads in Hungary: ingatlan.com or Jófogás? While the latter site has dominated the general online classified advertisement market since the acquisition of OLX (Apród) in 2015, ingatlan.com still leads the very lucrative segment of real estate ads, with 250,000 advertisements that are more up-to-date than the competition’s, and growing operating profits.

  • Homes Below HUF 15 Million Increasingly Rare In Budapest

    Homes Below HUF 15 Million Increasingly Rare In Budapest

    • 1 Jun 2018 10:36 AM

    This year so far 1,300 properties have been sold at below HUF 15 million through the network of residential real estate trading and advisory firm Otthon Centrum (OC). Very few of these were sold in Budapest, the majority being located outside the capital city.

  • Resale Home Market Slowing In Budapest

    Resale Home Market Slowing In Budapest

    • 28 May 2018 9:33 AM

    The real estate market outside Budapest continues to grow. This year homes put up for sale increased by 5% in major cities, while in Budapest owners are advertising 8% fewer. This indicates that potential buyers prefer new homes, index.hu portal says.

  • Resale Home Prices Up 19% Year-On-Year

    Resale Home Prices Up 19% Year-On-Year

    • 5 Apr 2018 9:03 AM

    Average home prices per square meter have grown sharply both in Budapest and major cities in Hungary, according to 10,000 advertisements posted on real estate database ingatlan.com. The price growth is visible even compared to January of this year.