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For Sale Commercial Building in Paphos City Center
Paphos City Center, Paphos, Cyprus
REF: 516158
€1,600,000
Description
HIGH POTENTIAL - PROPERTY INVESTMENT Arch. Makariou III Avenue – FOR SALE COMMERCIAL “LISTED” BUILDING in Paphos, Cyprus Facts and Benefits SUBSTAINABLE URBAN DEVELOPMENT AREA Major infrastructure and upgrade of Arch. Makariou III Avenue area Traditional Market shopping centre area Major night life centre with ample of food & beverage facilities. Surrounded by major Commercial Services and facilities A MULTIMILLION euro reconstruction for the area upgrade Vast number of public parking spaces Pedestrian only area with children facilities Easy access and frequent Public Transportation Service Protected and listed area controlled by the council authorities Local and Tourist Attraction Future Economic Growth Increase of Local Investment and Entrepreneurship Financial Benefits Listed Buildings Listed Buildings carry a high building coefficient, which can be transferred or sold once the preservation of the building has been completed according to the Town Planning. The government grants a considerable amount of funds (40%) for the preservation cost of Listed Buildings. All rental income is tax free for life. No property tax is imposed for listed buildings. No transfer fees on its purchase Amnesty of the square meters Building Size Building Covered Area: 360 m2 Mezzanine: 102 m2 Uncovered Area: 50 m2 Building Zone Characteristics Building Coverage - 180% Number of Floors - 4 Building Height - 13.1 m Price €1,600,000 No VAT & No Transfer fees (The Building is falls within the category of Listed Buildings Restrictions)
HIGH POTENTIAL - PROPERTY INVESTMENT Arch. Makariou III Avenue – FOR SALE COMMERCIAL “LISTED” BUILDING in Paphos, Cyprus Facts and Benefits SUBSTAINABLE URBAN DEVELOPMENT AREA Major infrastructure and upgrade of Arch. Makariou III Avenue area Traditional Market shopping centre area Major night life centre with ample of food & beverage facilities. Surrounded by major Commercial Services and facilities A MULTIMILLION euro reconstruction for the area upgrade Vast number of public parking spaces Pedestrian only area with children facilities Easy access and frequent Public Transportation Service Protected and listed area controlled by the council authorities Local and Tourist Attraction Future Economic Growth Increase of Local Investment and Entrepreneurship Financial Benefits Listed Buildings Listed Buildings carry a high building coefficient, which can be transferred or sold once the preservation of the building has been completed according to the Town Planning. The government grants a considerable amount of funds (40%) for the preservation cost of Listed Buildings. All rental income is tax free for life. No property tax is imposed for listed buildings. No transfer fees on its purchase Amnesty of the square meters Building Size Building Covered Area: 360 m2 Mezzanine: 102 m2 Uncovered Area: 50 m2 Building Zone Characteristics Building Coverage - 180% Number of Floors - 4 Building Height - 13.1 m Price €1,600,000 No VAT & No Transfer fees (The Building is falls within the category of Listed Buildings Restrictions)
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Currency Exchange
Paphos City Center, Paphos, Cyprus
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Cyprus do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Cyprus takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €1,600,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €1,600,000 | £1,325,296 | £1,375,120 | £49,824 |
| Property Price € | €1,600,000 |
| Minimum cost in the last six months | £1,325,296 |
| Maximum cost in the last six months | £1,375,120 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £49,824 |
Paphos City Center, Paphos, Cyprus
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Cyprus do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Cyprus takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €1,600,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €1,600,000 | £1,325,296 | £1,375,120 | £49,824 |
| Property Price € | €1,600,000 |
| Minimum cost in the last six months | £1,325,296 |
| Maximum cost in the last six months | £1,375,120 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £49,824 |
The exchange rate on the day you make an offer on your property in Cyprus will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £49,824 more.
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