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Building, For Sale, Paphos, Pegeia
Pegeia, Cyprus
REF: 870174
€650,000
Description
This exceptional property in the heart of Pegeia offers a versatile investment opportunity with substantial potential. The complex, set on a 490m² plot, includes a well-constructed main building with three spacious apartments and a traditional stone shell building ready for renovation. Main Building Features: Ground Floor Apartment: Spanning 134m², this apartment features a separate kitchen, an open-plan living and dining area, and two bathrooms. The layout ensures ample space and comfort. Upper Floor Apartment: This unit mirrors the ground floor layout but is larger, with a covered area of 147m². It benefits from the same well-designed features with additional space. Lower Ground Floor Apartment: Covering 110m², this apartment includes a private yard of 150m², offering outdoor space and additional versatility. Traditional Stone Shell Building: The shell building has a covered area of 52m² and provides a valuable renovation opportunity. Additional Features: Roof Garden: Stunning panoramic views are available from the roof garden, enhancing the appeal of each unit. Parking: Covered parking for one vehicle. Utilities: Equipped with water and electricity connections. Location: Centrally located in Pegeia, all local amenities are within walking distance, and Coral Bay Beach is just a short drive away. The main road frontage presents the possibility to convert the ground floor into retail space while utilizing the upper floors for residential purposes. This property offers an excellent chance to create a high-yield investment, with the flexibility to convert the apartments for various rental options and capitalise on its prime location and views.
This exceptional property in the heart of Pegeia offers a versatile investment opportunity with substantial potential. The complex, set on a 490m² plot, includes a well-constructed main building with three spacious apartments and a traditional stone shell building ready for renovation. Main Building Features: Ground Floor Apartment: Spanning 134m², this apartment features a separate kitchen, an open-plan living and dining area, and two bathrooms. The layout ensures ample space and comfort. Upper Floor Apartment: This unit mirrors the ground floor layout but is larger, with a covered area of 147m². It benefits from the same well-designed features with additional space. Lower Ground Floor Apartment: Covering 110m², this apartment includes a private yard of 150m², offering outdoor space and additional versatility. Traditional Stone Shell Building: The shell building has a covered area of 52m² and provides a valuable renovation opportunity. Additional Features: Roof Garden: Stunning panoramic views are available from the roof garden, enhancing the appeal of each unit. Parking: Covered parking for one vehicle. Utilities: Equipped with water and electricity connections. Location: Centrally located in Pegeia, all local amenities are within walking distance, and Coral Bay Beach is just a short drive away. The main road frontage presents the possibility to convert the ground floor into retail space while utilizing the upper floors for residential purposes. This property offers an excellent chance to create a high-yield investment, with the flexibility to convert the apartments for various rental options and capitalise on its prime location and views.
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Currency Exchange
Pegeia, 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 €650,000 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 |
|---|---|---|---|
| €650,000 | £541,275 | £560,664 | £19,390 |
| Property Price € | €650,000 |
| Minimum cost in the last six months | £541,275 |
| Maximum cost in the last six months | £560,664 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £19,390 |
Pegeia, 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 €650,000 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 |
|---|---|---|---|
| €650,000 | £541,275 | £560,664 | £19,390 |
| Property Price € | €650,000 |
| Minimum cost in the last six months | £541,275 |
| Maximum cost in the last six months | £560,664 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £19,390 |
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 £19,390 more.
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