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Building, For Sale, Nicosia, Egkomi
Egkomi, Cyprus
REF: 764486
€1,150,000
Description
This investment is an opportunity project with lots of potentials and it is located at the best area of Engomi near the University of Nicosia and its for as a whole building of 4 storeys. The building is about 40 years old and the 1st-2nd-3rd floor are covered each of them inside with 186m2 + 30 sq.m. covered verandas. This is an ideal investment opportunity that with the right renovation can be transformed and have many uses with high al yield. It can be transformed either as students campus with Facilities like cafe, communal kitchen, bathrooms, laundry room, library etc, or offices, or large luxury flats. The shop at the ground-floor is covered with 189sq.m. inside +27sq.m. verandas at can be transformed to a modern showroom, or as a students cafe, gym etc, or can be be turned to parking spaces for the apartments above. Because of its spot and location it will have a high demand for Retail business. The building factor in the area allows 3 residential floors (Ka5 100% density) but this building already has 4 floors with one commercial floor included as the building factor at the time was build were diffe back in 80's. The buyer will have to advice an Architect for changes in plans and for the new building license that will be necessary to transform the building. The building will be delivered empty upon transferring of title deeds to the new owner. Please call for more information or to arrange a meeting.
This investment is an opportunity project with lots of potentials and it is located at the best area of Engomi near the University of Nicosia and its for as a whole building of 4 storeys. The building is about 40 years old and the 1st-2nd-3rd floor are covered each of them inside with 186m2 + 30 sq.m. covered verandas. This is an ideal investment opportunity that with the right renovation can be transformed and have many uses with high al yield. It can be transformed either as students campus with Facilities like cafe, communal kitchen, bathrooms, laundry room, library etc, or offices, or large luxury flats. The shop at the ground-floor is covered with 189sq.m. inside +27sq.m. verandas at can be transformed to a modern showroom, or as a students cafe, gym etc, or can be be turned to parking spaces for the apartments above. Because of its spot and location it will have a high demand for Retail business. The building factor in the area allows 3 residential floors (Ka5 100% density) but this building already has 4 floors with one commercial floor included as the building factor at the time was build were diffe back in 80's. The buyer will have to advice an Architect for changes in plans and for the new building license that will be necessary to transform the building. The building will be delivered empty upon transferring of title deeds to the new owner. Please call for more information or to arrange a meeting.
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Currency Exchange
Egkomi, 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 €1,150,000 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 |
|---|---|---|---|
| €1,150,000 | £952,557 | £988,368 | £35,811 |
| Property Price € | €1,150,000 |
| Minimum cost in the last six months | £952,557 |
| Maximum cost in the last six months | £988,368 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £35,811 |
Egkomi, 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 €1,150,000 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 |
|---|---|---|---|
| €1,150,000 | £952,557 | £988,368 | £35,811 |
| Property Price € | €1,150,000 |
| Minimum cost in the last six months | £952,557 |
| Maximum cost in the last six months | £988,368 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £35,811 |
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 £35,811 more.
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