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Building, For Sale, Nicosia, Walled Old City
Walled Old City, Cyprus
REF: 770433
€990,000
Description
Location - This is a magnificent mixed use building, suitable for a variety of purposes, available in the most scenic and also more popular street of the old town. - All amenities are just nearby, making life easy for any occupant. External Characteristics - Externally the building is impressive, very well presented and in an excellent condition. Internal Characteristics - The building is in an open plan state and can be easily transformed to satisfy the needs of the buyer. - The ground floor level adds up to 204sqm. There is a very visible frontage with floor-to-ceiling windows, ideal for premium shops, and a separate entrance leading to the (installed) elevator area, where you can access the rest of the ground floor area where one can create an apartment that will feature access to the amazing back yard. - Alternatively, the whole ground-floor level could become an amazing restaurant with a back yard. - The 1st floor adds up to 200sqm and could be transformed to an amazing whole floor apartment or to multiple smaller residential units. - Given the Governmental Subsidy Scheme for the Walled City, the possibilities here are endless. - The 2nd floor features nice roof terrace and 72sqm of additional covered areas with multiple potential uses. - The building falls into ΠΕΖ-εν commercial zone, with 180% building density, 70% coverage and 3 floor allowance. - Considering the size of the land is 325sqm, there are more that 100sqm of unused building density that the new owner can take advantage of. This is a great opportunity, for a spectacular property in an amazing location. Advantages - Features - Amazing Back yard. - Top location. - Installed elevator. - more than 100sqm of unused building density. - suitable for a variety of uses and purposes. More than 400,000‚, were recently invested into this property, upgrading foundations, electrical infrastructure, mechanical infrastructure, elevator installation and other maintenance and decorating works.
Location - This is a magnificent mixed use building, suitable for a variety of purposes, available in the most scenic and also more popular street of the old town. - All amenities are just nearby, making life easy for any occupant. External Characteristics - Externally the building is impressive, very well presented and in an excellent condition. Internal Characteristics - The building is in an open plan state and can be easily transformed to satisfy the needs of the buyer. - The ground floor level adds up to 204sqm. There is a very visible frontage with floor-to-ceiling windows, ideal for premium shops, and a separate entrance leading to the (installed) elevator area, where you can access the rest of the ground floor area where one can create an apartment that will feature access to the amazing back yard. - Alternatively, the whole ground-floor level could become an amazing restaurant with a back yard. - The 1st floor adds up to 200sqm and could be transformed to an amazing whole floor apartment or to multiple smaller residential units. - Given the Governmental Subsidy Scheme for the Walled City, the possibilities here are endless. - The 2nd floor features nice roof terrace and 72sqm of additional covered areas with multiple potential uses. - The building falls into ΠΕΖ-εν commercial zone, with 180% building density, 70% coverage and 3 floor allowance. - Considering the size of the land is 325sqm, there are more that 100sqm of unused building density that the new owner can take advantage of. This is a great opportunity, for a spectacular property in an amazing location. Advantages - Features - Amazing Back yard. - Top location. - Installed elevator. - more than 100sqm of unused building density. - suitable for a variety of uses and purposes. More than 400,000‚, were recently invested into this property, upgrading foundations, electrical infrastructure, mechanical infrastructure, elevator installation and other maintenance and decorating works.
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Currency Exchange
Walled Old City, Cyprus
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Cyprus do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Cyprus takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €990,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €990,000 | £815,661 | £859,409 | £43,748 |
| Property Price € | €990,000 |
| Minimum cost in the last six months | £815,661 |
| Maximum cost in the last six months | £859,409 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £43,748 |
Walled Old City, Cyprus
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Cyprus do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Cyprus takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €990,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €990,000 | £815,661 | £859,409 | £43,748 |
| Property Price € | €990,000 |
| Minimum cost in the last six months | £815,661 |
| Maximum cost in the last six months | £859,409 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £43,748 |
The exchange rate on the day you make an offer on your property in Cyprus will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £43,748 more.
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