This new apartment building is under construction in the famous area of Pafos near the Tombs of the Kings.
The complex comprises seven luxurious apartments with a shared swimming pool and a covered private parking area.
The project consists of six two-bedroom apartments and one three-bedroom penthouse suite. Each apartment is spacious and immaculately designed with luxurious finishes, areas to relax and large balconies.
The penthouse suite has a private rooftop garden with panoramic sea and mountain views.
Interior features include Italian floors in all areas, laminated floors in bedrooms, innovative built-in kitchen and wardrobes, a bathroom with a walk-in shower, and wall-mounted toilets.
Other fixtures and fittings include underfloor heating, concealed VRV cooling system, electric car gates, and provision for an electric car charger, alarm system, and intercom in the entrance door.
Located close to Capital Coast Hotel and British Aspire School, the development is a few minutes from amenities and within a short walk to beaches and shopping malls.
The project is under licensing with a completion date of March 2024. The construction of two apartments has been financed, and five remaining apartments require financing.
Selling prices for the apartments are between €345,000 and €615,000. The selling price for the remaining five apartments is €1,755,000.
Optional furniture costs €25,000 (two-bedroom) and €30,000 (three-bedroom).
INVESTMENT PROPOSAL
Amazon Investments is searching for investors to co-finance the construction of this luxury apartment complex that is a short walk from the center of Paphos’ seaside touristic area.
The project consists of seven luxurious apartments.
Amazon Investments has undertaken the construction of two apartments, and financing is required for the remaining five apartments.
Over 1000 digital nomads and IT professionals are expected to relocate to Cyprus in 2023. This development is an ideal investment for these employed and independent professionals who will relocate to Pafos and wish to live near the sea.
The increasing prices of luxury apartments and offices in the neighboring city of Limassol forced many IT companies to relocate to Pafos.
Pafos is now identifiable as a new corporate center but faces an unprecedented shortage of luxury properties to keep up with recent demand.
The average selling price of newly constructed luxury apartments with underfloor heating in the Tombs of the Kings area of Pafos is €3,800 per sq.m. The financing of this project will enable Amazon Investments to complete it with a cost of €3,150 per sq.m.
The project is also ready for use as a rental business with an expected return of 8%.
To use the project as a rental property, the furnishings with all provisional electronic appliances will cost an additional €130,000 for the five apartments.
Registering the project as a short-term rental business with CTO (Cyprus Touristic Organization) will grant the reimbursement of the VAT after one year.
Amazon Investments is part of the international group of Companies, Amazon Group Services. The group has many clients from the CIS countries wishing to relocate to Cyprus and currently searching for prime residential and commercial buildings across all cities of Cyprus.
