Land in Pissouri, Limassol, Cyprus No. 58156

€ 880 000

+ 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

The parcel covers 3,954 m² of building land in zone H3 with a building coefficient of 60%, which allows roughly 2,372 m² of construction. A concept plan has already been prepared for sixteen custom-designed residences, and it can be re-purposed if a buyer has a different programme in mind. Infrastructure to the site is in place, so the work ahead is design and permitting rather than groundworks.

The land sits in an elevated position above the village of Pissouri, and the position is the point: panoramic views open over Pissouri Bay and the Mediterranean, the kind of outlook that sets the value of every unit built on it. The village itself is one of the most established on this stretch of coast — beaches, tavernas and a five-star hotel and resort within easy reach — and the plot is close to the Birthplace of Aphrodite, one of the most recognised sites on the island.

Pissouri lies between Paphos and Limassol, which gives a scheme here two markets rather than one. Two 18-hole international championship golf courses are nearby, the Paphos tourist area is a twenty-minute drive, and Paphos International Airport is reached in twenty-nine minutes. For a developer, this is a site with its orientation, its views and its audience already decided.

The main features:

• Building land of 3,954 m²
• Zone H3, building coefficient 60%
• Ability to build: residences
• Concept plan for 16 custom-designed residences
• Design can be re-purposed for another programme
• Infrastructure already in place
• Elevated position with panoramic views of Pissouri Bay and the Mediterranean
• Adjacent to the Birthplace of Aphrodite
• Close to two 18-hole international championship golf courses
• Five-star hotel and resort nearby
• 20 minutes to the Paphos tourist area, 29 minutes to Paphos International Airport

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+ VAT

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