€ 1 818 000

€ 2 287 / sqm

+ VAT

From January 13, 2014 the VAT rate in Cyprus is 19%. However, buyers can purchase a new property with a reduced VAT rate of 5% under the following conditions:

The purchase is made by an individual, not a legal entity.
The buyer is not going to rent out the acquired property.
This will be a primary residence in Cyprus for the buyer, and they do not have any other property in Cyprus acquired with the reduced VAT rate within the last 10 years.

A reduced VAT rate of only 5% is applied to the first 200 m². The remaining area over 200 m² is subject to a 19% tax. These rules only apply to buyers of new developments, while for secondary real estate, VAT is 0%

8 bedrooms Commercial property in Germasogeia, Limassol, Cyprus No. 35373

Bedrooms

Bathrooms

795 sq.m.

Square

Parameters

Property Description

This small block of four different 2-bedroom units in Limassol, has all the features that make it an ideal investment real estate.

The property is located in a quiet residential neighbourhood in Germasogeia, one of the prime areas in Limassol, only 2km from the nearest organized sandy beach. All everyday amenities from banks and supermarkets to shops and restaurants are less than 1km from the property. In addition, easy access to the highway makes it an ideal base for commuters or regular travellers, as it is midway between the two airports in Larnaca and Pafos, both around 50km away.

The 3-storey block is marked by its contemporary, simple lines and houses 2 duplexes across the ground and first floor, each with 2 ensuite bedrooms and an open-plan living area. The third unit is on the first floor, while the fourth unit is the penthouse on the second floor, with its vast uncovered veranda. As such, the property offers a variety of 2-bedroom configurations to suit different purposes and preferences.

Every aspect of design, construction and finishing is geared towards comfort in an urban Mediterranean environment: Elegant entrance lobby, bright interiors, cool superior finishing materials, double glazed windows, ample fitted kitchen cabinets and appliances as well as bedroom wardrobes. Solar heating and split unit air-conditioning are also fully installed. For each unit there is a designated underground parking space, and the building provides an additional ground floor parking spot for the disabled. A communal roof terrace on the third floor offers residents a place to meet and enjoy the uninterrupted sea view, and a cool escape for evenings under the stars.

Seen as a whole, this is an investment proposition with vast potential. Whether for own use for an extended family, or for short- or long-term rental revenue, Easymal will appeal to both the local and expatriate market. It is particularly recommended for buyers seeking eligibility for the residency by investment scheme.