€ 595 000

+ 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%

Land in Paralimni, Ammochostos, Cyprus No. 35791

Parameters

Property Description

An investment opportunity in one of the most desirable locations near Protaras.

This nice shaped plot of land sized at 2800 m² is located within walking distance to lovely blue flag sandy bays and all year round amenities, including shops, supermarkets, bars, tavernas and restaurants.

The plot is within Τ1στ2 Zone and is ideal for the following options:
- Residential development - Building Density at 30% with 25% Coverage, 2 floors allowed up to 10 meters.
- Development of holiday resort, villas, apartments - Building Density at 40% with 25% Coverage, 2 floors allowed up to 10 meters.

According to legislation the investor could apply to buy an extra 6% building density.

Conveniently situated in Ayia Triada touristic area, in a very quiet location, this plot is ideal for both permanent residency as well as holidays. Highly recommended for viewing.