Located in Kato Pafos, this modern development is in a stunning residential area, a short walk to the beach and the famous Kato Pafos Promenade.
The four-story building boasts only seven ultra-modern apartments with spectacular city and sea views, with lifts extending to all floors. There are five remaining apartments left for sale.
The apartment’s features include wood cladding, traditional stone, fair-face concrete external walls, beautiful ceramic tiles on the verandas, and high-quality fittings.
The complex boasts a beautifully landscaped shared garden with an irrigation system and privately owned parking spaces on ground level. Another highlight of the development is the top floor, with breathtaking views.
In addition, the local area is buzzing with an array of amenities and attractions, including the Tomb of the Kings, Kings Avenue Mall, Aphrodite’s Sacred City, and Pafos Castle.
Close to three international schools and only a 20-minute drive from Pafos Airport, the property is well suited for either holiday homes or permanent residencies.
The total price is now €1,683,000. This price does not include any discount or the cost of underfloor heating, furniture, split AC units, and electrical appliances.
The remaining five apartment’s built areas are between 60 and 92 sq.m. Please see the table below for further specifications.
|
Apartment Number |
Cov. Internal Area, sq.m. |
Covered Veranda, sq.m. |
Built Area, sq.m. |
Bedrooms |
Bath/Shower |
|
101 |
75 |
17 |
92 |
2 |
2 |
|
102 |
50 |
17 |
67 |
1 |
1 |
|
301 |
75 |
17 |
92 |
2 |
2 |
|
302 |
50 |
17 |
67 |
1 |
1 |
|
401 |
50 |
10 |
60 |
1 |
1 |
Investment Proposal
Amazon Investments is searching for investors to co-finance the construction of this luxury apartment complex located nearby the center of the seaside touristic area of Pafos.
The project consists of seven luxurious apartments. Amazon Investments has financed the construction of two apartments, and the remaining five require financing.
This development is ideally suited to the many digital nomads and IT professionals who have recently relocated to Pafos and wish to live near the sea.
The accelerating prices of luxury apartments and offices in the neighboring city of Limassol forced many IT companies to relocate to Paphos. Pafos is quickly becoming a corporate center in Cyprus, but it faces an unprecedented shortage of luxury properties. The average selling price of newly constructed luxury apartments in the seaside area of Pafos is €4,950 per sq.m.
The financing of this project will enable Amazon Investments to complete it for €4,480 per sq.m. The project can also be used as a rental business with an expected average net return of 8%. A property management company of Amazon Investments can undertake the management of the project if required.
The upwards trend of real estate prices in Pafos can also guarantee an IRR of 21% in the next five years. The VAT is fully recoverable after one year of registering as a short-term rental business with CTO (Cyprus Touristic Organization).
Amazon Investments is part of the international group of Companies, Amazon Group Services. The group has many clients from the CIS countries who wish to relocate to Cyprus and are actively looking for premium residential and commercial buildings in all cities of Cyprus.
