Bank of Cyprus is now the country's second largest private Estate Agent, due to the mass selling-off of seized land

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The Bank of Cyprus is now come into its own as the island’s second-biggest private Estate Agency after the church, due to the reselling of seized property to cover the country’s non-performing loans. The mass foreclosures are somewhat of a new spectacle in Cyprus, as the bank seizes unpaid secondary property’s or holiday homes of residents who are in severe debt with the bank. These properties are then listed for sale on the Real Estate Management Unit (Remu) website for somewhat of a hefty price tag. The Remu website has a wide variety of residential and commercial properties, and plots around the island.