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Building, For Sale, Paphos, Timi
Timi, Cyprus
REF: 801582
€1,300,000
Description
Here is an excellent investment opoortunity in Timi, Paphos district a comprehesive package comprising two residential lands and a strategically positioned building in seperated land, ready for development. Location: Conveniently situated just 15 minutes from Paphos town and 25 minutes from Limassol Marina , this property boasts easy access to amenities and attractions. Building features: Land: The building sits one a residentia land meauring 857m2 , in H3 zone with building density of 60% and 35% coverage, up to two floors allowance at a height of 8.3m. Restaurant : A spacious restaurant occupies the ground floor, spanning 317 m2 and complying with EU regulations. Basement: The property includes a substantial basement of 106m2 ideal for storage or versatile use. Apartments: Upstairs , three charming two-bedroom apartments, covering 225 m2 and featuring balconies with stunning views. Residential lands: Adjacent to the property is a generous plot measuring 3724m2 , offering ample space for expansion or additional developments. The second land behind the property, spans 1034 m2 , both boasting a H3 zone with building density of 60% and 35% coverage, up to two floors allowance at a height of 8.3m. Proposed ideas: Hotel apartment complex : Utilize the adjacent land to develop a hotel apartment complex with 48 units , incorporating the existing restaurant into the set up. Family friendly restaurant: Enhance the restaurants appeal by adding a playground area, catering to families. Consider converting top floor into employee accommodation for operational efficiency. Act now: Seize this opportunity before its gone - offers must be submitted by March 19th to secure your stake in this lucrative deal!!!
Here is an excellent investment opoortunity in Timi, Paphos district a comprehesive package comprising two residential lands and a strategically positioned building in seperated land, ready for development. Location: Conveniently situated just 15 minutes from Paphos town and 25 minutes from Limassol Marina , this property boasts easy access to amenities and attractions. Building features: Land: The building sits one a residentia land meauring 857m2 , in H3 zone with building density of 60% and 35% coverage, up to two floors allowance at a height of 8.3m. Restaurant : A spacious restaurant occupies the ground floor, spanning 317 m2 and complying with EU regulations. Basement: The property includes a substantial basement of 106m2 ideal for storage or versatile use. Apartments: Upstairs , three charming two-bedroom apartments, covering 225 m2 and featuring balconies with stunning views. Residential lands: Adjacent to the property is a generous plot measuring 3724m2 , offering ample space for expansion or additional developments. The second land behind the property, spans 1034 m2 , both boasting a H3 zone with building density of 60% and 35% coverage, up to two floors allowance at a height of 8.3m. Proposed ideas: Hotel apartment complex : Utilize the adjacent land to develop a hotel apartment complex with 48 units , incorporating the existing restaurant into the set up. Family friendly restaurant: Enhance the restaurants appeal by adding a playground area, catering to families. Consider converting top floor into employee accommodation for operational efficiency. Act now: Seize this opportunity before its gone - offers must be submitted by March 19th to secure your stake in this lucrative deal!!!
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Currency Exchange
Timi, 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 €1,300,000 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 |
|---|---|---|---|
| €1,300,000 | £1,105,897 | £1,139,502 | £33,605 |
| Property Price € | €1,300,000 |
| Minimum cost in the last six months | £1,105,897 |
| Maximum cost in the last six months | £1,139,502 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £33,605 |
Timi, 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 €1,300,000 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 |
|---|---|---|---|
| €1,300,000 | £1,105,897 | £1,139,502 | £33,605 |
| Property Price € | €1,300,000 |
| Minimum cost in the last six months | £1,105,897 |
| Maximum cost in the last six months | £1,139,502 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £33,605 |
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 £33,605 more.
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