€ 1 250 000

+ 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 Pyrgos, Limassol, Cyprus No. 46858

Parameters

Property Description

This development offers a comprehensive investment opportunity, combining land, design work, and fully approved planning permits. Situated on a plot of 7,855 m², the project allows for a building density of 30% and a coverage ratio of 20%, resulting in a net building coefficient of 2,120 m² plus covered verandas if fully utilised. The architectural plans include ten detached villas of two different types, supported by completed structural engineering studies and electromechanical drawings.

All essential preparatory stages have been finalised, from topographical surveying and geotechnical analysis to brochures, technical specifications, 3D renders, and a full feasibility study. Planning permits for both land division and development have been approved, while the building permit for development has been submitted and is currently awaiting approval. The seller will complete all required permit issuances, settle consultant fees up to the building permit stage, and deliver all studies and documentation to the purchaser, who may continue with the existing consultants or appoint new professionals for the subsequent phases.

The main features of the project and the units:
• Plot area 7,855 m²
• Building density 30%
• Coverage 20%
• Net building coefficient 2,120 m² + covered verandas
• Architectural drawings for 10 detached villas
• Completed topographer work
• Completed geotechnical study
• Completed structural engineering studies
• Completed electromechanical drawings
• Approved planning permits
• Approved building permit for land division/road construction
• Submitted building permit for development
• Completed brochure, technical specs, 3D renders and feasibility study
• Seller obligations included

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Land in Agios Tychonas, Limassol, Cyprus No. 54054

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