€ 1 590 000

€ 3 265 / 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%

487m2 Commercial property in Livadia, Nicosia, Cyprus No. 51987

487 sq.m.

Square

Parameters

Property Description

The project is situated in one of Larnaca’s most rapidly developing and promising areas, Livadia. The location is truly privileged, as the building is tucked away in a quiet cul-de-sac next to a green area, offering the peace and safety of a real neighborhood. A major advantage of this spot is its proximity to the new Larnaca Port and Marina, a landmark project that is significantly boosting property values in the region. Within very close proximity, you will find the American University of Cyprus, schools, and all essential amenities, while the beach and the city center are just a 5-minute drive away.

This is a modern three-story residential building with a contemporary design, representing an excellent investment opportunity as it is available for sale as a whole block (either on its own or together with the adjacent building). The development consists of a total of 8 apartments (six 1-bedroom units and two 2-bedroom units). The design features a south-facing orientation, ensuring that all living spaces are bright and airy, while the high construction quality ensures excellent energy efficiency and functionality.

The apartments offer comfortable interiors and spacious south-facing verandas, providing a pleasant living environment. The price includes all modern amenities: a solar water heater, a water pressure system, as well as an allocated covered parking space and a private storage room for each unit. The top-floor apartments enjoy the exclusive benefit of a large, individual roof garden with a BBQ area, an extra room, and an additional bathroom. Furthermore, these penthouse units are equipped with photovoltaic systems (net metering), making the building an exceptionally attractive solution for high-yield rental investments.