863m2 Commercial property in Nicosia, Cyprus No. 53328

863 sq.m.

Square

€ 7 777 350

€ 9 012 / 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

In the heart of Nicosia, two side-by-side office buildings provide excellent business spaces. One contains a single, expansive office, while the other includes four floors of
offices, a rooftop veranda with a kitchen, and recreation areas, ensuring modern amenities in a prime city center location.

Major benefits:

• 2 office buildings
• roof veranda with kitchen and recreation area
• 19 parking slots.

Location:

• Enticing dynamic city and a thriving business hub
• Administrative, political and financial capital of Cyprus
• Strategic central location
• International community
• Wide range of restaurants, cafes and 5* hotels
• Vibrant cultural events and festivals
• Private schools and universities providing high-standard education
• Historical architectural landmarks and cultural sites.

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