1140m2 Commercial property in Agios Athanasios, Limassol, Cyprus No. 51630

1140 sq.m.

Square

€ 7 600 000

€ 6 667 / 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%

Parameters

Property Description

This residential building will consist of three floors and 12 apartments. Each floor will have 4 apartments of 3 bedrooms, verandas, storage and covered parking.

Located in a quiet neighborhood with easy access to the highway with all amenities nearby and yet the project is still in a walking distance from primary and high schools, both public and private.

The property offers an exceptional potential for its conversion into a hotel or serviced apartments, complete with the pool and the gym.

The Project has EPC certificate with "A" Energy Efficiency Rating.