Nine apartments of a multi-story residential building comprising 10 apartments are available for sale.
Situated in a highly sought-after location near Limassol, this luxurious apartment building seamlessly blends modern design into the cultural capital. Ayios Athanasios is a trendy neighborhood consisting of new buildings and houses.
The development is in a highly convenient location, just a short drive from the highway, and close to Folye’s School (one of the biggest and most prestigious English-speaking private schools in Cyprus).
There are spectacular sea views from the second floor of the development. Each apartment comes with large verandas and uninterrupted panoramic views of the city.
The development is a nearly zero energy building with photovoltaic panels and utilizes hi-spec innovative design.
Interior features include modern lighting design, high ceilings, high-quality EU-made ceramic floor tiles paving the bathrooms and verandas, hidden air conditioning units, and plenty of storage space.
Each apartment has provisions for a washing machine, dryer, dishwasher, electric towel rails, garbage disposal, and a water filter.
The exterior finishes include glass railings on the balconies and thermal insulation. Many apartments feature two parking spots.
The price for the remaining nine apartments is €4,020,000, not including the cost of furniture, electrical appliances, a/c, or underfloor heating.
Please see the building’s full design specifications below.
| № |
Apt No. |
Interior, sq.m. |
Covered Veranda, sq.m. |
Semi-Covered, sq.m. |
Storage, sq.m. |
Price, € |
|
1 |
101 |
84 |
22 |
0 |
4.5 |
€ 420,000 |
|
2 |
102 |
84 |
23 |
0 |
4 |
€ 420,000 |
|
3 |
201 |
84 |
22 |
0 |
5 |
€ 440,000 |
|
4 |
202 |
84 |
23 |
0 |
5 |
€ 440,000 |
|
5 |
203 |
84 |
19 |
0 |
4.5 |
€ 440,000 |
|
6 |
301 |
84 |
22 |
0 |
2.5 |
€ 460,000 |
|
7 |
302 |
84 |
23 |
0 |
2.4 |
€ 460,000 |
|
8 |
303 |
84 |
19 |
0 |
2.7 |
€ 460,000 |
|
9 |
402 |
84 |
19 |
0 |
2.7 |
€ 480,000 |
| - |
Total |
756 |
192 |
0 |
33.3 |
€ 4,020,000 |
INVESTMENT PROPOSAL
Amazon Investments is searching for investors to co-finance the construction of this luxury apartment complex in a prestigious area of Limassol.
As the corporate center of Cyprus, Limassol is home to thousands of foreign companies, mainly in technology, shipping, investment, and finance.
The low corporate tax, the zero dividend tax, the IP Box Regime, and the New Strategy for Attracting Business combined have transformed Cyprus into the most sought-after relocation center in the Middle East and Southern Europe.
More than 18,000 companies of foreign interest submitted applications to register a company in Cyprus between 2020 – 2022. Not only do new regulations facilitate the relocation and employment of high-paid employees, but also their family members and spouses, respectively.
Predictions estimate that over 1000 high-paid executives will travel to Limassol in 2023 with their families, looking for high-end properties to support their aspirations for a new luxury lifestyle.
Limassol's high-demand residential real estate market is split into two main areas, primarily above and below the highway.
The price of properties below the highway experienced a gradual increase of 25% in the last two years resulting from a decrease in supply. Properties above the highway experienced an increase of 10%. Predictions estimate this steady incline will accelerate in 2023 due to the developments in Ukraine.
The average selling price of luxury apartments above the highway is €4,500 per sq.m and €4,700 per sq.m in the property area. The co-financing of this project will enable Amazon Investments to complete it for €4,250 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 Group Services can manage the project if required.
The price of €4,020,000 plus VAT does not include the cost of furniture, hydronic underfloor heating, split units AC systems, and all electrical appliances.
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 looking for premium residential and commercial buildings in all cities of Cyprus.
