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Building, For Sale, Nicosia, Walled Old City
Walled Old City, Cyprus
REF: 768845
€4,250,000
Description
This asset is a commercial building located in Nicosia€™s city center. The asset consists of: -Retail space: large ground floor showroom, four floors of exhibition areas with a separate staircase (of 872sqm) and a mezzanine (of 241sqm), -Office space: four floors of offices (of 261sqm each), -Basement: two levels with a total 33 parking spaces. The building benefits of additional building density of c. 300 sqm. The immediate area of the asset is the commercial centre of Nicosia and is fully developed with commercial buildings, offices, showrooms and buildings of mixed commercial and residential use. The asset falls within planning zone EZ-κ with building density coefficient of 200%, coverage coefficient 60%, in 6 floors and a maximum height of 24m.
This asset is a commercial building located in Nicosia€™s city center. The asset consists of: -Retail space: large ground floor showroom, four floors of exhibition areas with a separate staircase (of 872sqm) and a mezzanine (of 241sqm), -Office space: four floors of offices (of 261sqm each), -Basement: two levels with a total 33 parking spaces. The building benefits of additional building density of c. 300 sqm. The immediate area of the asset is the commercial centre of Nicosia and is fully developed with commercial buildings, offices, showrooms and buildings of mixed commercial and residential use. The asset falls within planning zone EZ-κ with building density coefficient of 200%, coverage coefficient 60%, in 6 floors and a maximum height of 24m.
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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 €4,250,000 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 |
|---|---|---|---|
| €4,250,000 | £3,501,575 | £3,652,663 | £151,088 |
| Property Price € | €4,250,000 |
| Minimum cost in the last six months | £3,501,575 |
| Maximum cost in the last six months | £3,652,663 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £151,088 |
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 €4,250,000 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 |
|---|---|---|---|
| €4,250,000 | £3,501,575 | £3,652,663 | £151,088 |
| Property Price € | €4,250,000 |
| Minimum cost in the last six months | £3,501,575 |
| Maximum cost in the last six months | £3,652,663 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £151,088 |
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 £151,088 more.
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