CIB Group announces another Online Property Auction

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The CIB Group – as the first in the Hungarian market to do so – launched a comprehensive programme in 2013 for the resale, in an online auction, of the properties under its ownership. The success of the initiative is also contributing substantially to supporting fulfilment of the Group's strategic objectives focusing on sustainable profitability.

Inspired by the excellent results of previous auctions and the improvement in the property market outlook, in October the Group is holding another property auction, during which it is offering more than 60 residential and commercial properties for sale in Budapest, Pest County and Balatonlelle.

The properties offered for sale represent value for either owner occupiers or investors alike given the fast improving positive fundamentals of the real estate sector and the attractive pricing which in many cases is considerably below replacement cost.

The properties are already viewable on the www.cibingatlanaukcio.hu website, and the auction itself will take place between 27 and 28 October. CIB Bank also offers financing opportunities to prospective buyers – subject to terms and conditions – for the purchase of the properties.

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