1 bedroom Apartment in Larnaca, Larnaka, Cyprus No. 57012

Bedrooms

Bathrooms

51 sq.m.

Square

€ 180 000

€ 3 529 / 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

Eight apartments make up this building in the Radisson Blu area of the Larnaca seafront, roughly 400 metres from the beach. It stands beside a sister building of the same design.

Six of the eight are one-bedroom apartments of around 50 m² with covered verandas of 12 m², spread across the first to fourth floors. The fifth floor holds two two-bedroom apartments of around 81 m², each with a covered veranda of 18 m² to 21 m² and a roof garden of about 51 m², which roughly doubles the usable area of those homes.

Every apartment includes a storage room and one parking space.

The main features of the project and the units:

• eight apartments across five floors
• one-bedroom apartments of around 50 m² with covered verandas of 12 m²
• two-bedroom apartments of around 81 m² on the fifth floor
• roof gardens of about 51 m² for the fifth-floor apartments
• a storage room for every apartment
• one parking space for every apartment
• roughly 400 metres from the beach

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