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Commercial Building in Neapoli, Limassol
5693, Cyprus
REF: 642192
€23,000,000
Description
Reference ID: #SA29228Price details: 23,000,000Offices for sale in a contemporary commercial building complex located in an attractive and dynamic location in Neapolis Quarter in Limassol Municipality. The complex is next to one of the city center s landmark junctions - Agios Nikolaos roundabout, an area which comprises of modern office blocks and important public buildings. Premises situated on 6-floorsTotal area: 4,200 sq.mUnderground parking: 65 spacesSea view from upper floors The building is equipped with: Ventilation systems Conditioning system Three stages of power outage protection (UPS, small and large generator) Access Control System Video Surveillance System Alarm system Fire safety systemThe rent is 126,000 per month Based on 4,200 m2 building at 30 / sq.m126,000 / month x 12 months = 1,512,000 - 30,000 expenses = 1,482,000 1,482,000 / 23,000,000 x 100% = 6.44% interest.The estimated value of the building has grown by 2-3% every year for the last five years (when there was no inflation) - now the growth is much faster. 6.44% + 2 - 3% = 8.44 - 9.44% interest per year.With proper tax planning, the tax is 4.2% of profit (8.44 - 9.44 x 0.958 = 8.1 - 9.04% NET INTEREST)
Reference ID: #SA29228Price details: 23,000,000Offices for sale in a contemporary commercial building complex located in an attractive and dynamic location in Neapolis Quarter in Limassol Municipality. The complex is next to one of the city center s landmark junctions - Agios Nikolaos roundabout, an area which comprises of modern office blocks and important public buildings. Premises situated on 6-floorsTotal area: 4,200 sq.mUnderground parking: 65 spacesSea view from upper floors The building is equipped with: Ventilation systems Conditioning system Three stages of power outage protection (UPS, small and large generator) Access Control System Video Surveillance System Alarm system Fire safety systemThe rent is 126,000 per month Based on 4,200 m2 building at 30 / sq.m126,000 / month x 12 months = 1,512,000 - 30,000 expenses = 1,482,000 1,482,000 / 23,000,000 x 100% = 6.44% interest.The estimated value of the building has grown by 2-3% every year for the last five years (when there was no inflation) - now the growth is much faster. 6.44% + 2 - 3% = 8.44 - 9.44% interest per year.With proper tax planning, the tax is 4.2% of profit (8.44 - 9.44 x 0.958 = 8.1 - 9.04% NET INTEREST)
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Currency Exchange
5693, 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 €23,000,000 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 |
|---|---|---|---|
| €23,000,000 | £19,133,240 | £19,794,260 | £661,020 |
| Property Price € | €23,000,000 |
| Minimum cost in the last six months | £19,133,240 |
| Maximum cost in the last six months | £19,794,260 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £661,020 |
5693, 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 €23,000,000 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 |
|---|---|---|---|
| €23,000,000 | £19,133,240 | £19,794,260 | £661,020 |
| Property Price € | €23,000,000 |
| Minimum cost in the last six months | £19,133,240 |
| Maximum cost in the last six months | £19,794,260 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £661,020 |
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 £661,020 more.
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