Situated in the scenic residential area of Pafos named Universal, this stunning contemporary development comprises one and two-bedroom apartments.
The three-story building has only five apartments, with three currently available (as two have sold).
All the apartments come with luxurious and modern top-quality fittings and finishes, containing shower rooms, bathrooms, or both.
Elevators give access to all floors, with a stunning rooftop communal swimming pool on its fourth floor. All residents can enjoy the breathtaking scenic views from the top floor.
There is a privately owned parking area on the ground level, allocated storage units, and a landscaped common garden with an irrigation system outside.
This development has many attractions nearby, such as the Pafos Promenade, Kings Avenue Mall, and World UNESCO Heritage sites. Not to mention, it’s just a 20-minute drive to an international airport.
These stunning apartments are within a short distance of the city center and a short walk away from amenities such as shops and supermarkets, making them ideal for either holiday homes or permanent residencies.
The total selling price for the three remaining apartments is €970,000. The total covered internal area of the remaining three apartments is 205 sq.m., the covered veranda is 50 sq.m., and the uncovered veranda is 19 sq.m, with a total storage space of 6 sq.m.
The total selling price does not include underfloor heating, furniture, split AC units, and electrical appliances.
A complete internal furniture package costs €20,000 (one bedroom) and €25,000 (two bedrooms), and underfloor heating costs €15,000 (one bedroom) and €20,000 (two bedrooms).
Please see the table below for the full design specifications.
|
Apartment No |
Cov. Internal Area, sq.m. |
Cov. Veranda, sq.m. |
Uncovered Veranda, sq.m. |
Storage, sq.m. |
Parking Space |
Bedrooms |
Bath |
Shower |
Price, euro |
Underfloor heating, euro |
Furniture, euro |
|
102 |
75 |
17 |
- |
2 |
1 |
2 |
1 |
1 |
€ 350,000 |
€ 20,000 |
€ 25,000 |
|
201 |
75 |
16 |
- |
2 |
1 |
2 |
- |
1 |
€ 360,000 |
€ 20,000 |
€ 25,000 |
|
202 |
55 |
17 |
19 |
2 |
1 |
1 |
1 |
1 |
€ 260,000 |
€ 15,000 |
€ 20,000 |
|
Total |
205 |
50 |
19 |
6 |
3 | - | - | - |
€ 970,000 |
€ 55,000 |
€ 70,000 |
INVESTMENT PROPOSAL
Amazon Investments is searching for investors to co-finance the construction of this luxury apartment complex within walking distance from the center of Paphos’ seaside touristic area.
Amazon Investments has undertaken the construction of two apartments, and financing is required for the remaining three apartments.
The development is in a prime location for the many digital nomads and IT professionals relocating to Pafos and looking for a residence close to the sea.
The high prices of luxury offices and apartments in Limassol forced many IT professionals to move their companies and relocate to Pafos.
Pafos has since become recognized as a corporate center in Cyprus, but it faces an unprecedented deficit of luxury properties to keep up with the demand.
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 at the cost of €4,700 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 manage the project if necessary).
The growing 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 if the project is registered 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 desiring to relocate to Cyprus and looking for premium residential and commercial buildings in all cities.
