Land in Pervolia, Larnaka, Cyprus No. 57784

€ 5 500 000

+ 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 residential field of 6,703 m² per the title deed, in the coastal village of Pervolia — one of Larnaca’s most desirable seaside areas, around 16 km from the city and a short drive from the popular Phinikoudes and McKenzie beaches with their white sand and clear blue waters. The land lies in the Ammos locality, is registered as a whole share and comes with a title deed.

The plot is ideally suited for a luxury development of six opulent four-bedroom villas, each on a plot of around 1,129 m² with 315 m² of internal space, 50 m² of covered verandas and a 110 m² roof garden. Pervolia’s traditional Cypriot character, fertile gardens and peaceful ambiance, unspoiled by mass tourism, make the area a favourite with families and overseas buyers alike.

The main features:

• Residential field of 6,703 m² per the title deed
• Ammos locality, registered as a whole share, title deed available
• Concept for six luxury 4-bedroom villas (plot ~1,129 m², internal 315 m², covered verandas 50 m², roof garden 110 m² each)
• Short drive to Phinikoudes and McKenzie beaches
• About 16 km from the centre of Larnaca
• Peaceful established seaside village