Nestled in the cosmopolitan Germasogeia area of Limassol, this development is in an idyllic neighborhood. The apartment block is away from the bustle yet beneficially close to the city center and local amenities.
The development comprises five luxury apartments across three levels, with a penthouse on the top level. Each floor is designed with spacious and modern specifications.
Two floors have one three-bedroom and one two-bedroom apartment, with one three-bedroom apartment on the third floor.
Each of the three-bedroom apartments contains an en-suite master bedroom.
The development’s exterior is meticulously designed with various smart materials, blending wooden elements and fair-faced concrete, giving the whole building a contemporary and elegant feel.
The large glass verandas provide residents with beautiful views of the cityscape.
The interior of each residence is full of natural light with floor-to-ceiling windows, elegant fixtures and fittings, bright marble floors and countertops, modern decor, and finishings of the highest quality standards.
Along with local amenities and attractions, Limassol’s famous Blue Flag beaches are only a short distance from this property, making it an ideal investment.
The price of the whole development is €3,320,000.
The total build area is 468.8 sq.m., and the total uncovered area is 82.34 sq.m. See the table below for the full specifications.
|
NO |
DESCRIPTION |
COVERED AREA |
COVERED VERANTA |
COMMON AREA |
STORAGE |
TOTAL AREA |
UNCOVERED. AREA |
|
101 |
2 bedrooms |
77.00 |
24.66 |
18.46 |
4.00 |
124.12 |
|
|
102 |
3 bedrooms (1 in suite) |
99.36 |
21.58 |
21.96 |
3.84 |
146.74 |
|
|
201 |
2 bedrooms |
77.00 |
19.77 |
17.57 |
3.60 |
117.94 |
|
|
202 |
3 bedrooms (1 in suite) |
99.36 |
21.58 |
21.96 |
3.60 |
146.50 |
|
|
301 |
3 bedrooms (1 in suite) |
115.88 |
31.88 |
26.83 |
5.15 |
179.74 |
82.34 |
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 the home of 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 have transformed Cyprus into the most sought-after relocation center in the Middle East and Southern Europe.
Between 2020 – 2022 more than 18,000 companies of foreign interest submitted applications to register a company in Cyprus. The new regulations facilitate the relocation of employees and their family members, which is another attractive incentive to relocate.
More than 1000 high-paid executives are expected to arrive in Limassol in 2023 with their families looking for high-end properties to support their luxury lifestyle aspirations.
Limassol's high-demand residential real estate market is separated into two areas, primarily the areas above and below the highway.
The price of properties below the highway experienced an accumulative increase of 25% in the last two years, mainly due to the decrease in supply. This trend is expected to accelerate in 2023 due to the developments in Ukraine.
The average selling price of class B luxury apartments below the highway is €6,700 per sq.m. The co-financing of this project will enable Amazon Investments to complete it with a cost of €5,600 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 needed.
The Price of €3,320,000 + VAT does not include the cost of furniture, split units AC systems, hydronic underfloor heating, and all electrical appliances.
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 wishing to relocate to Cyprus who are actively looking for premium residential and commercial buildings in all cities of Cyprus.
