Land in Limassol, Cyprus No. 57767

€ 3 000 000

+ 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

A large development field of 3,510 m² located just 70 metres northeast of the Polemidia roundabout, with the Limassol–Nicosia highway running along its southeast boundary behind a 1.5 m buffer zone. The land enjoys easy access to the highway and is only a few minutes’ drive from the city centre. It falls within building zone Κα6 with a 90% building factor and 50% coverage, allowing construction of up to three floors and 13.5 m in height.

The maximum building area reaches 2,007 m² — an initial allowance of 1,895.4 m² plus 111.8 m² (5.9%) acquired from a listed property. Of the total area, 1,116 m² is allocated to the road network and 253 m² to green space, leaving a final plot of 2,141 m². Title deeds are available, making the field a strong candidate for residential or commercial development in a fast-growing part of Limassol.

The main features:

• Total area 3,510 m²; final plot 2,141 m² (road network 1,116 m², green area 253 m²)
• Building zone Κα6: building factor 90%, coverage 50%
• Up to three floors, maximum height 13.5 m
• Maximum building area 2,007 m² (1,895.4 m² + 111.8 m² from a listed property)
• 70 m northeast of the Polemidia roundabout
• Adjacent to the Limassol–Nicosia highway (1.5 m buffer zone)
• A few minutes’ drive to the city centre
• Title deeds available