1 bedroom Apartment in Prodromos, Nicosia, Cyprus No. 56384

Bedrooms

54 sq.m.

Square

€ 1 170 000

€ 21 667 / 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

A unique architectural development comprises the legendary Hotel and a residential project that is perfect for people who want a unique lifestyle experience.

The project will provide 5-star hotel amenities like a luxury spa that includes a large heated swimming pool, a well-designed gym, a yoga area, massage, a sauna, a jacuzzi and extensive outdoor exercise and relaxation areas.

The historic hotel offers:

• 30 rooms
• restaurants
• indoor and outdoor pool
• spa.

The residential development project consists of:

• 9 luxury villas - 3, 4 and 5 bedrooms
• 13 private residences - 2 and 3 bedrooms
• 6 modern apartments -1 bedroom
• 8 cozy studios
• 5 condo apartments - 3, 4 and 5 bedrooms in the hotel building.

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