AUCTIONS soar in Valencia since the beginning of the coronavirus
Since the beginning of the pandemic, the popularity of auctions of property and many other items has soared in the Valencian community, with savvy buyers looking to snap up a bargain as prices drop. Eactivos.com, who manages online sales and bankruptcy actions, reported that there has been more than two-and-a-half times more auction activity in Valencia compared to last year, representing an increase in supply of 158%.
So far this year, 197 events have been carried out, and 10,133 offers have been recorded from a total of 2,725 participants.
The most popular item for auctions is, not surprisingly, property, with resident in Valencia, Alicante, Xabia, Aldaia, Cullera and Oropesa snapping up the most real estate deals. 88,490 shares in Valencia CF were auctioned in two batches this year, with €128,000 securing the lucky bidder 17,600 shares in the club.
Keen buyers have also participated in actions for parking spaces, flats, commercial premises and homes, with one residential property in La Punta starting out at €21,00 and being bid up to €126,000.
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