Paphos Below Market Value
Overview
| Price | EUR 97000 |
|---|---|
| Location | Cyprus - Paphos |
| Property Type | Apartment |
| Number of beds | 1 |
| Swimming Pool | Yes |
| Listing Type | For Sale |
| Reference | S3L-201003-9 |
| Enquire | Make an enquiry » |
Gallery
Click on the thumbnails to expand the image.
Details
Communal facilities:
•Two Pools connected with a lazy river
•Solar panel – heated communal swimming pool
•Pool bar,Fully equipped gym
•Electric gates with remote control
•Private resident lifts,Marble communal stairs
•Central satellite system with shared expenses
•Satellite receiver at an additional cost
•Covered parking,Mini market
•Sauna,Jacuzzi
This gated complex features unsurpassed views of the Kato Paphos, the lighthouse and the sea.
The low-rise development is situated on a hill overlooking the Paphos coastline, is just a stone’s throw from the town, Kato Paphos and the beachfront. Surrounded by landscaped gardens and large sun terraces ensures complete relaxation in the sun.
The landscaped gardens create an inviting neighbourhood that comes to life around the large two swimming pools, linked together by a meandering lazy river. There are large sun terraces with a pool bar. Other residents-only facilities within the complex include a fully equipped gym with sauna and Jacuzzi, and two retail outlets. For anything else you could want or need, just step outside of the development and you are only a couple of minutes walk away from the idyllic centre of Paphos.
The apartments consist of Italian wardrobes and kitchen cupboards, granite worktops, marble stair cases, private residence lifts and remote controlled access gates.
PACKAGE & COSTS
Starting price €97,000 inc VAT.
Option 1
1. No deposit is required
2. Developer’s 30% Discount
3. Mortgage 70% ( Average Mortgage Rate 4%)
4. Air Conditioning Included – Oven Hob and Extractor Fan are Standard Fittings
5. €6,000 Cash Back For Furniture Or Client’s Personal Use
6. 3 Year Rental Guarantee – No Personal Use
Option 2
Offers 1-4 are included in this option.
5. €10,000 Cash Back For Furniture Or Client’s Personal Use
Communal charges:
•Studios – €513 per year
•1 bedroom – €854 per year
•2 bedroom – €1,025 per year
•3 bedroom – €1,200 per year
•Villas – €1,200 per year
Property Taxes, Fees and Rates
Real Estate Transfer tax-fees are paid once to the land registry and are necessary in order to transfer freehold ownership to the name of the purchaser. The Transferee is responsible for the tax payment. The rates are on a graduated scale. This can be done as soon as the relevant Government Authority has issued the title deed and the purchase has been completed.
Value Of Property In Cyprus Pounds (CYP) Transfer Fee Rate (Per 100%)
Up to 50,000 3
From 50,000-100,000 5
From over 100,000 8
Should the purchase be made in joint names (provided the price is more than Cyprus 50,000) the effective value for calculation is halved.
Transfer of ownership takes place by a simple process of registration at the Land Registry Office and the issuing of a title deed after completion and delivery. This can be done either by the buyer personally or by assigning Power of Attorney to a Solicitor. A pre-requisite for registration, in the case of foreigners, is evidence that the property has been paid for with foreign exchange and approval by the “Council of Ministers of Purchaser’s application” to buy property in Cyprus . These formalities can be taken up by the buyers lawyer on the buyers behalf. However, before the registration of the completed property the purchaser should pay the transfer fees to the Land Registry office.
Stamp Duty
The purchaser is liable to pay stamp duty at the rate of 1.50 Cyprus per thousand up to the value of 100,000 Cyprus. thereafter the rate is 2.00 Cyprus per thousand. This must be paid within 30 days of signing the contract.
Immovable Property Tax
The annual immovable property ownership tax is based upon the value of the property. Certain immovable properties are exempt:
Value of property Cyprus Pounds (CYP) Annual Property tax (rate per thousand ‰)
Up to 100,000 exempt
100 ,001 250,000 2.0
250,000 500,000 3.0
Over 500,000 3.5
Important Note:
Immovable property tax is based upon the value of the property in 1980 which is much lower than the current market value. So there is no immovable property tax for the majority of properties in Cyprus
Local authority taxes and rates:
A rough guide could be approximately Cyprus Pounds 50 -150 per year depending on the size of your property. This tax is for rubbish collection, street lighting, sewerage, etc. The basic utilities, electricity, water and telephone are payable individually in accordance with the consumption and based on a meter reading.
For further information please contact me, Thank You.
•Two Pools connected with a lazy river
•Solar panel – heated communal swimming pool
•Pool bar,Fully equipped gym
•Electric gates with remote control
•Private resident lifts,Marble communal stairs
•Central satellite system with shared expenses
•Satellite receiver at an additional cost
•Covered parking,Mini market
•Sauna,Jacuzzi
This gated complex features unsurpassed views of the Kato Paphos, the lighthouse and the sea.
The low-rise development is situated on a hill overlooking the Paphos coastline, is just a stone’s throw from the town, Kato Paphos and the beachfront. Surrounded by landscaped gardens and large sun terraces ensures complete relaxation in the sun.
The landscaped gardens create an inviting neighbourhood that comes to life around the large two swimming pools, linked together by a meandering lazy river. There are large sun terraces with a pool bar. Other residents-only facilities within the complex include a fully equipped gym with sauna and Jacuzzi, and two retail outlets. For anything else you could want or need, just step outside of the development and you are only a couple of minutes walk away from the idyllic centre of Paphos.
The apartments consist of Italian wardrobes and kitchen cupboards, granite worktops, marble stair cases, private residence lifts and remote controlled access gates.
PACKAGE & COSTS
Starting price €97,000 inc VAT.
Option 1
1. No deposit is required
2. Developer’s 30% Discount
3. Mortgage 70% ( Average Mortgage Rate 4%)
4. Air Conditioning Included – Oven Hob and Extractor Fan are Standard Fittings
5. €6,000 Cash Back For Furniture Or Client’s Personal Use
6. 3 Year Rental Guarantee – No Personal Use
Option 2
Offers 1-4 are included in this option.
5. €10,000 Cash Back For Furniture Or Client’s Personal Use
Communal charges:
•Studios – €513 per year
•1 bedroom – €854 per year
•2 bedroom – €1,025 per year
•3 bedroom – €1,200 per year
•Villas – €1,200 per year
Property Taxes, Fees and Rates
Real Estate Transfer tax-fees are paid once to the land registry and are necessary in order to transfer freehold ownership to the name of the purchaser. The Transferee is responsible for the tax payment. The rates are on a graduated scale. This can be done as soon as the relevant Government Authority has issued the title deed and the purchase has been completed.
Value Of Property In Cyprus Pounds (CYP) Transfer Fee Rate (Per 100%)
Up to 50,000 3
From 50,000-100,000 5
From over 100,000 8
Should the purchase be made in joint names (provided the price is more than Cyprus 50,000) the effective value for calculation is halved.
Transfer of ownership takes place by a simple process of registration at the Land Registry Office and the issuing of a title deed after completion and delivery. This can be done either by the buyer personally or by assigning Power of Attorney to a Solicitor. A pre-requisite for registration, in the case of foreigners, is evidence that the property has been paid for with foreign exchange and approval by the “Council of Ministers of Purchaser’s application” to buy property in Cyprus . These formalities can be taken up by the buyers lawyer on the buyers behalf. However, before the registration of the completed property the purchaser should pay the transfer fees to the Land Registry office.
Stamp Duty
The purchaser is liable to pay stamp duty at the rate of 1.50 Cyprus per thousand up to the value of 100,000 Cyprus. thereafter the rate is 2.00 Cyprus per thousand. This must be paid within 30 days of signing the contract.
Immovable Property Tax
The annual immovable property ownership tax is based upon the value of the property. Certain immovable properties are exempt:
Value of property Cyprus Pounds (CYP) Annual Property tax (rate per thousand ‰)
Up to 100,000 exempt
100 ,001 250,000 2.0
250,000 500,000 3.0
Over 500,000 3.5
Important Note:
Immovable property tax is based upon the value of the property in 1980 which is much lower than the current market value. So there is no immovable property tax for the majority of properties in Cyprus
Local authority taxes and rates:
A rough guide could be approximately Cyprus Pounds 50 -150 per year depending on the size of your property. This tax is for rubbish collection, street lighting, sewerage, etc. The basic utilities, electricity, water and telephone are payable individually in accordance with the consumption and based on a meter reading.
For further information please contact me, Thank You.