2 bedrooms Apartment in Paphos, Cyprus No. 57700

Bedrooms

93 sq.m.

Square

€ 390 000

€ 4 194 / 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

The complex comprises of 2 blocks of studio, 1 and 2 bedroom apartments and on-site facilities. It is located in the area of Universal in Paphos.

The project is surrounded by tall trees that offer privacy and tranquillity and is in 10-minutes walk from the sea, Paphos harbour and close to all amenities.

Consisting of 22 apartments in total, a reception area, a fitness centre, kids playground, landscaped gardens and a communal swimming pool, the development is an ideal project for both investment and permanent living.

The Project has EPC certificate with "B" Energy Efficiency Rating.