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Homes, hotels and golf courses in debt to asset swaps
© InCyprus | Homes, hotels and golf courses in debt to asset swaps

More and more real estate, from houses to hotels and golf courses is being transferred to the Bank of Cyprus from people unable to repay their loans. By the end of the first quarter of 2018, real estate stock at the bank rose by 689, but there were  only 123 sales, which represents only 5% of all property held by the the Real Estate Management Unit of  the Bank of Cyprus (REMU). Moreover, REMU has reached agreements to swap another 177 properties for debt.
At the end of the first qu….. Read More On: InCyprus

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