Auction Cancelled For Aphrodite 2 Only

Aphrodite 2 Auction Cancelled For One Property Victim OnlyAccording to Cyprus Today (18.06.16) the good news is that the Auction has been cancelled. The bad news is that this auction which was called as a result of the builder’s original loan being increased to £3m because it had not been repaid is only being cancelled for the Aphrodite 2 site. The builder blamed the 50 property purchasers for not paying for properties despite this one purchaser confirming that they had paid everything only to discover that there was a mortgage on his property. When this was confirmed Aphrodite 2 was removed from the auction which will then continue as planned but will only include ‘bare land’, just as the K5 auction properties were described.

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3 comments to Auction Cancelled For Aphrodite 2 Only

  • fluter

    Not sure I understand this. Are there other developments that they propose to sell fraudulently?

  • cyprusishome

    Once again buyers are blamed!!
    Who took out a mortgage on property that had already been sold? Why did the bank give such a large mortgage on property that had already been sold?

    This is Kulaksiz 5 all over again and someone should step in and stop all transactions until the result of K5 case.

    If they are selling land only it must be a massive area to be able to secure £2.5 million.

  • fluter

    Of course, it’s always the buyers’ fault!

    I read this morning that the auction is back on. I presume, then, that the statement that it was cancelled was intended to deter people from attending to protest?

    That would be typically cynical.