2 bedrooms Penthouse in Geroskípou, Paphos, Cyprus No. 57811

Bedrooms

81 sq.m.

Square

€ 300 000

€ 3 704 / 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

A modern low-rise development of six two-bedroom apartments in Geroskipou, an eastern suburb a few minutes' drive from the city. Each apartment offers 80–81 m² of internal space with a covered veranda of 19 m², and the top-floor apartment enjoys a private roof garden of 50 m².

The main features of the project and the units:

• Six two-bedroom apartments
• Covered verandas of 19 m²
• Private roof garden of 50 m² on the top floor
• Low-rise three-storey building

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