€ 3 264 000

€ 5 967 / 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%

547m2 Commercial property in Paphos, Cyprus No. 49778

547 sq.m.

Square

Parameters

Property Description

This modern commercial building consists of a mezzanine, 4 floors and a roof garden. The built-up area of the property, of which 115 sqm is the ground floor, 54 sqm is the mezzanine, the 2nd floor is 99 sqm, the 3rd floor is 86 sqm and 93 sqm is for the 4th floor.

The curved architecture of the building creates a sense of space, openness and light. This feature is emphasized by attractive open verandas on each floor with views of the cityscape. The building is located at the entrance to Paphos, close to the highway in a busy area.

The building is in close proximity to educational institutions such as colleges and schools, as well as banks, shops, cafes and restaurants, making it an ideal real estate investment with a high yield.