1 bedroom Apartment in Lakatamia, Nicosia, Cyprus No. 57104

Bedrooms

50 sq.m.

Square

€ 125 000

€ 2 500 / 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

This residential project is located in Lakatamia, Nicosia. It includes 6 apartments: two one-bedroom and four two-bedroom units. Each apartment features a storage room and a covered parking space in the garage. One-bedroom apartments have a bathroom with a shower, while two-bedroom apartments have two bathrooms, including a master bathroom with a shower. All apartments offer an open-plan living room, dining area, kitchen, and a covered terrace. The penthouse apartments include a private roof garden.

The main features of the project and the units:

• 6 apartments with 1 and 2 bedrooms
• Storage rooms in all apartments
• Covered parking spaces in the garage
• 1-2 bathrooms per unit
• Open-plan living, dining, and kitchen areas
• Covered terraces
• Penthouse apartments with roof gardens
• Provision for photovoltaic system and electrical wall heaters

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