+ 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%

4 bedrooms Penthouse in Nicosia, Cyprus No. 45524

4

Bedrooms

277 sq.m.

Square

Parameters

Property Description

The Residence is a highrise luxury building located in the centre of the capital of Cyprus in close proximity to the city park, the Ministry of Finance, the Ministry of Interior and the Parliament. Elite and exclusive, safe and secure, the project has no equal in Nicosia. The project is offering you the residential parallel of a 5-star boutique hotel. This unique complex offers broad amenities with a commercial area on the ground floor and special Spa facilities with fitness club, sauna, jet pool and Jacuzzi on the first floor. The residential part consists of two and three bedroom apartments with high-end finishes of top European brands, Miele appliances and Italian marble floors. The mega penthouse on the entire 21st floor offers incomparable luxury and breathtaking views. The Residences provide residents-only amenities that will add value to your home and wellbeing to your life. A fully computerized, multilevel automated valet parking system by KLAUS multiparking, is the first in Cyprus. This integrated self-parking and security system takes all the time and hassle out of manoeuvring into or out of underground parking spaces - all with a swipe of your personal parking card.

The Project has EPC certificate with "B" Energy Efficiency Rating

Statistics

€ 2 763

Price per sq.m.

154

Quality of Life Index

59

Cost of Living Index

Choose a city for comparison

Parameters

Nicosia

Rent Per Month

Apartment (1 bedroom) in City Centre

€ 719

Apartment (1 bedroom) Outside of Centre

€ 622

Apartment (3 bedrooms) in City Centre

€ 1 526

Apartment (3 bedrooms) Outside of Centre

€ 1 189

Buy Apartment Price

Price per square metre in the city centre

€ 2 763

Price per square metre outside the city centre

€ 2 042

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