1 bedroom Apartment in Apostolos Andreas, Limassol, Cyprus No. 57110

Bedrooms

Bathrooms

56 sq.m.

Square

€ 298 000

€ 5 321 / 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 building is located in Agios Ioannis, one of Limassol’s most rapidly developing districts. It consists of one-bedroom apartments on the first three floors and a two-bedroom apartment on the top floor. The development also offers a communal roof garden with a barbecue area.

The project combines practical layouts with larger-than-usual living spaces, including verandas of up to 42.5 sq.m., making it suitable both for residence and for investment, especially given the ongoing growth of the surrounding area.

The main features of the project and the units:

• One-bedroom apartments on the first three floors
• Two-bedroom apartment on the top floor
• Spacious verandas up to 42.5 sq.m.
• Common roof garden with BBQ area

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