Land in Anarita, Paphos, Cyprus No. 58160
€ 1 950 000
+ VAT
+ 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.
Parameters
Property Description
The parcel covers 6,355 m² of building land in zone H2, with a building coefficient of 90% — which translates into 4,964 m² of permitted building area and capacity for more than forty residences. For a developer this is a rare combination: a plot large enough for a full scheme, in a zone that allows density, on the doorstep of Paphos.
A concept study has already been prepared for the site, setting out 43 residences — thirteen one-bedroom apartments, sixteen with two bedrooms and one with three, alongside eleven two-bedroom houses, a two-bedroom house with a study and a three-bedroom house. The design can be re-purposed for a different programme, so the study serves as a starting point rather than a constraint. Infrastructure to the plot is already in place, which removes one of the longest and least predictable stages of any development.
Anarita lies twelve kilometres from Paphos town, north-east of Timi and the international airport, twelve minutes from Kato Paphos and around half an hour from Limassol. The village keeps everything daily life asks for — supermarkets, fruit markets, bakeries, kiosks and tavernas — and draws a settled mix of locals and expatriates who come for the quiet. It is the kind of place people choose to raise a family or to retire, which is precisely the demand a residential scheme here would meet.
The main features:
• Plot of 6,355 m² of building land
• Building area of 4,964 m²
• Building coefficient 90%
• Zone H2
• Capacity for 40+ residences
• Concept study for 43 residences prepared
• Design can be re-purposed for another programme
• Infrastructure already in place
• 12 km from Paphos town, 12 minutes from Kato Paphos
• Close to Paphos International Airport