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Building, For Sale, Nicosia, Walled Old City
Walled Old City, Cyprus
REF: 764277
€540,000
Description
UNIQUE INVESTMENT OPPORTUNITY for Students or AirBnB!!! (Price negotiable) This old building is just next (only 20 meters walk) to the famous Ledras Avenue in the old City of Nicosia, surrounded by small hotels, coffee shops, restaurants, and shops.Cyprus - Eu Sponsorship: The total fund that will be allocated for sponsorships, during the period of implementation of the Plan, amounts to ‚15m. The minimum investment (eligible expenditure), both for the conversion of a building into a student residence/student rooms and for the construction of a new building for use as a student residence/student rooms, is set at ‚140,000. The maximum amount of sponsorship per beneficiary is ‚2,000,000. The amount of the sponsorship (sponsorship intensity) will be as follows: 75% on the eligible costs of each Proposal for the conversion of an existing building into a student residence/student rooms, 50% on the eligible costs of each Proposal for the construction of a new building intended for student accommodation/ student rooms There are all the conditions to participate in the funding scheme for Student Residences - Student Rooms, a central tool of NextGenerationEU, the European Union's Recovery and Resilience Plan. Find out more regarding the Government Sponsorship here https://www.philenews.com/oikonomia/kypros/article/1459327/os-2-ekat-choriga-ga-foititiki-estia-stin-palia-lefkosia *Please note that the photos in this listing are conceptual drawings of how the property will look after refurbishment. [All architecture plans, Renovation cost plans, and designers prospectus are available for the new owner] The building consists of three floors of approximately a total 400 sq.m. with five title deeds as follows: Ground floor A. Two shops facing the street (two commercial title deeds) B. One apartment facing the backyard (one residential title deed) First floor Three studios with small balconies and a single one-bedroom apartment (one residential title deed for the entire floor) Second floor Three studios with small balconies and a single one-bedroom apartment (one residential title deed for the entire floor)Investing prospects The building is ideal for both long-term and short-term als -Airbnb All residential units are cur ly ed to foreign workers. Considering that the building is fully renovated, the income from Rentals can reach approximately ‚60,000 - ‚70,000 / year.
UNIQUE INVESTMENT OPPORTUNITY for Students or AirBnB!!! (Price negotiable) This old building is just next (only 20 meters walk) to the famous Ledras Avenue in the old City of Nicosia, surrounded by small hotels, coffee shops, restaurants, and shops.Cyprus - Eu Sponsorship: The total fund that will be allocated for sponsorships, during the period of implementation of the Plan, amounts to ‚15m. The minimum investment (eligible expenditure), both for the conversion of a building into a student residence/student rooms and for the construction of a new building for use as a student residence/student rooms, is set at ‚140,000. The maximum amount of sponsorship per beneficiary is ‚2,000,000. The amount of the sponsorship (sponsorship intensity) will be as follows: 75% on the eligible costs of each Proposal for the conversion of an existing building into a student residence/student rooms, 50% on the eligible costs of each Proposal for the construction of a new building intended for student accommodation/ student rooms There are all the conditions to participate in the funding scheme for Student Residences - Student Rooms, a central tool of NextGenerationEU, the European Union's Recovery and Resilience Plan. Find out more regarding the Government Sponsorship here https://www.philenews.com/oikonomia/kypros/article/1459327/os-2-ekat-choriga-ga-foititiki-estia-stin-palia-lefkosia *Please note that the photos in this listing are conceptual drawings of how the property will look after refurbishment. [All architecture plans, Renovation cost plans, and designers prospectus are available for the new owner] The building consists of three floors of approximately a total 400 sq.m. with five title deeds as follows: Ground floor A. Two shops facing the street (two commercial title deeds) B. One apartment facing the backyard (one residential title deed) First floor Three studios with small balconies and a single one-bedroom apartment (one residential title deed for the entire floor) Second floor Three studios with small balconies and a single one-bedroom apartment (one residential title deed for the entire floor)Investing prospects The building is ideal for both long-term and short-term als -Airbnb All residential units are cur ly ed to foreign workers. Considering that the building is fully renovated, the income from Rentals can reach approximately ‚60,000 - ‚70,000 / year.
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Currency Exchange
Walled Old City, 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 €540,000 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 |
|---|---|---|---|
| €540,000 | £447,287 | £464,103 | £16,816 |
| Property Price € | €540,000 |
| Minimum cost in the last six months | £447,287 |
| Maximum cost in the last six months | £464,103 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £16,816 |
Walled Old City, 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 €540,000 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 |
|---|---|---|---|
| €540,000 | £447,287 | £464,103 | £16,816 |
| Property Price € | €540,000 |
| Minimum cost in the last six months | £447,287 |
| Maximum cost in the last six months | £464,103 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £16,816 |
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 £16,816 more.
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