Land in Tsada, Paphos, Cyprus No. 58157

€ 685 000

+ 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 plot covers 2,197 m² of building land in the village of Tsada with a density of approximately 1,560 m² — a size that suits a private house built to its owner’s design as readily as a small residential scheme. Infrastructure to the site is already in place, and the concept prepared for it can be re-purposed for a different programme.

Two established villa developments stand immediately adjacent, which tells a buyer more about the location than any description: this is ground that has already proved itself, and the surroundings are formed rather than speculative. An 18-hole international championship golf course is a few minutes away — for many buyers in these hills the deciding factor.

Tsada sits above Paphos, so the plot takes in panoramic sea views while remaining close to everything: a short drive to the city centre, ten minutes to the tourist area, fifteen to Paphos International Airport. International and public schools are nearby, along with the village of Kamares and its quiet natural setting — the practical detail that decides matters for a family choosing where to build.

The main features:

• Building land of 2,197 m²
• Density of approximately 1,560 m²
• Suitable for a private residence or a small scheme
• Infrastructure already in place
• Concept can be re-purposed for another programme
• Panoramic sea views
• Adjacent to two established villa developments
• Minutes from an 18-hole championship golf course
• International and public schools nearby
• 10 minutes to the tourist area, 15 to the airport

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