2 bedrooms Penthouse in Livadia, Larnaka, Cyprus No. 57011

Bedrooms

95 sq.m.

Square

€ 370 000

€ 3 895 / 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

Six apartments occupy a corner site in a settled residential town north-east of Larnaca, roughly fifteen minutes from the international airport. The building is small, but the apartments differ markedly from floor to floor.

The ground floor holds a loft-style apartment with a private garden of more than 100 m². The first floor has two simplex apartments of around 78 m², one of them on the corner with windows on two sides. The second floor is given to a duplex with a rooftop level, where the interior of 78 m² is joined by a covered veranda of 16 m² and rooftop space above.

Every apartment has a storage room and a parking space, and solar panels on the roof cover part of the building's electricity use. Schools and everyday services sit inside the district, with the seafront and the port a short drive away.

The main features of the project and the units:

• six apartments on a corner site
• a ground-floor loft-style apartment with a private garden of more than 100 m²
• two simplex apartments of around 78 m² on the first floor, one of them a corner unit
• a duplex with a rooftop level on the second floor
• covered verandas from 16 m² to 25 m²
• solar panels on the roof covering part of the building's electricity use
• a storage room for every apartment
• a parking space for every apartment
• roughly fifteen minutes from the international airport

The project has an EPC certificate with "A" energy efficiency rating.