1 bedroom Apartment in Lakatamia, Nicosia, Cyprus No. 57108

Bedrooms

51 sq.m.

Square

€ 120 000

€ 2 353 / 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 and consists of six apartments — two one-bedroom and four two-bedroom units. Each apartment includes a storage room and a covered parking space. The two-bedroom apartments have two bathrooms, while the one-bedroom units have one. All apartments feature open-plan living and dining areas with a kitchen and a covered terrace. The two-bedroom apartments include a photovoltaic system, and all units have provision for wall-mounted electric heaters. The penthouses offer private roof gardens.

The main features of the project and the units:

• Six apartments
• Two 1-bedroom and four 2-bedroom units
• Two-bedroom apartments with two bathrooms
• One-bedroom apartments with one bathroom
• Open-plan living and dining areas
• Covered terraces
• Storage rooms and covered parking spaces
• Photovoltaic system in two-bedroom apartments
• Provision for wall-mounted electric heaters
• Roof gardens for penthouses

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