An entire residential development consisting of ten residences valued at nearly €3m is seeking a new owner through an electronic auction. It concerns the "MARONI VILLAS" complex in Maroni, Larnaca district, which, with a reserve price of €2.85m, currently constitutes the most expensive property available for sale on the eAuction platform.

The electronic auction is scheduled for September 4, 2026, at 10:00 a.m., following an application by ASTRO CAPITAL PUBLIC COMPANY LIMITED.

The property involves a plot of land measuring 11,037 sq.m. in Maroni, where the "MARONI VILLAS" residential complex has been developed. A total of eleven residences have been erected; however, ten are included in the auction, as residence number 3 is excluded from the foreclosure process.

This is not a single isolated residence, but almost a complete residential development, making the property particularly attractive to land development companies, investment funds, or investors seeking high-value turn-key projects.

The residences were constructed around 2018 and feature enclosed areas ranging from 130 to 204 sq.m., large covered and uncovered verandas, while six of them additionally feature underground utility areas. The development combines different housing types, offering significant prospects for exploitation either through sale or rental.

The reserve sale price stands at €2.85m, while a guarantee of €285,400 is required for participation in the auction. Under the terms of the process, the property will not be awarded if the reserve price is not met, while any applicable VAT is not included in the price and will burden the buyer where applicable.

The property records also note open files regarding the horizontal and vertical division of the development.

Interest now turns to whether an investor will step forward to acquire an entire residential development worth nearly €3m, in one of the largest transactions currently attempted through the eAuction platform.

Source: ink.com