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Investment Property in Larnaca
5770, Cyprus
REF: 802429
€450,000
Description
3 Apartments in a Residential building in Chrysopolitissa, Larnaca. 350 m2 Build 475 m2 Land Services and facilities Garden The property for sale is a two-storey residential building in Chrysopolitissa Quarter of Larnaca Municipality. It is situated in an area with good access to the city center, the Port and the Larnaca Marina. Furthermore, the property is ideally situated close to a plethora of amenities and services such as schools, supermarkets, shops etc. The building is approximate 60 years and consists of a basement storage area of approximate 80sqm, one house on ground floor and two flats on the upper floor. It is noted that the building was partially renovated. The ground floor house consists of two bedrooms, an office, living/siting area with fireplace, kitchen and main bathroom/ toilet. Outside there are verandas, yard with BBQ and parking space. The ground floor has 175sqm enclosed area. The upper floor divided into two similar flats (west & east) that consists of one bedroom, dining/ living area, kitchen and main bathroom. The 1st floor has a total enclosed area of 175sq.m. The key advantage to this property is that that whole building is being sold making it suitable for both rental or private use. It is noted that the building is vacant. The property falls within the Residential Zone Ka3 having building density coefficient 140% in 4 floors. Characteristics Year built: 1961 Title deed: The property has a separate title deed
3 Apartments in a Residential building in Chrysopolitissa, Larnaca. 350 m2 Build 475 m2 Land Services and facilities Garden The property for sale is a two-storey residential building in Chrysopolitissa Quarter of Larnaca Municipality. It is situated in an area with good access to the city center, the Port and the Larnaca Marina. Furthermore, the property is ideally situated close to a plethora of amenities and services such as schools, supermarkets, shops etc. The building is approximate 60 years and consists of a basement storage area of approximate 80sqm, one house on ground floor and two flats on the upper floor. It is noted that the building was partially renovated. The ground floor house consists of two bedrooms, an office, living/siting area with fireplace, kitchen and main bathroom/ toilet. Outside there are verandas, yard with BBQ and parking space. The ground floor has 175sqm enclosed area. The upper floor divided into two similar flats (west & east) that consists of one bedroom, dining/ living area, kitchen and main bathroom. The 1st floor has a total enclosed area of 175sq.m. The key advantage to this property is that that whole building is being sold making it suitable for both rental or private use. It is noted that the building is vacant. The property falls within the Residential Zone Ka3 having building density coefficient 140% in 4 floors. Characteristics Year built: 1961 Title deed: The property has a separate title deed
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Currency Exchange
5770, 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 €450,000 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 |
|---|---|---|---|
| €450,000 | £382,811 | £394,421 | £11,610 |
| Property Price € | €450,000 |
| Minimum cost in the last six months | £382,811 |
| Maximum cost in the last six months | £394,421 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £11,610 |
5770, 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 €450,000 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 |
|---|---|---|---|
| €450,000 | £382,811 | £394,421 | £11,610 |
| Property Price € | €450,000 |
| Minimum cost in the last six months | £382,811 |
| Maximum cost in the last six months | £394,421 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £11,610 |
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 £11,610 more.
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