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Building in Mesa Geitonia, Limassol
5593, Cyprus
REF: 981442
€2,650,000
Description
Reference ID: #SA36636Price details: 2,650,000 +VATInvestment opportunity, a premium residential development strategically located in the heart of Limassol, just moments away from the city business center, the beach, and a wealth of amenities.Project is situated in a rapidly developing area of Limassol, ensuring strong rental demand from professionals, expatriates, and families, perfect for people aiming to avoid traffic and have a hassle-free transportation. Its proximity to the city business centre, Makarios Avenue (the main city avenue), and the beach enhances accessibility, while amenities like shopping centres, restaurants, schools, and healthcare facilities are within walking distance.A three-floor development with a total of seven flats for sale, covering a combined area of 761 sqm on a 525 sqm plot of land. The building features six two-bedroom flats and one one-bedroom flat, designed to cater to the high-demand rental market of Limassol.*Notably, the second and third floors can be extended to transform the two-bedroom flats into three-bedroom units, maximizing rental income and value.Rental Income Potential:1st Floor: Two 2-bedroom flats at 2,200 each and a 1-bedroom flat at 1,800.Second Floor: Two 2-bedroom flats at 2,800 each. (Can be extended into 3- bedroom flats)Third Floor: Two 2-bedroom flats at 3,000 each. (Can be extended into 3- bedroom flats)Annual Rental Income:1st Floor: 6,200/month = 74,400/yearSecond Floor: 5,600/month = 67,200/yearThird Floor: 6,000/month = 72,000/yearTotal Annual Rental Income: 213,600With a selling price of 2,650,000, this results in a projected annual return on investment (ROI) of approximately 8.00%, not considering potential property value appreciation in this highly desirable area.This is a rare opportunity to invest in a property that combines strong rental yields with significant growth potential.
Reference ID: #SA36636Price details: 2,650,000 +VATInvestment opportunity, a premium residential development strategically located in the heart of Limassol, just moments away from the city business center, the beach, and a wealth of amenities.Project is situated in a rapidly developing area of Limassol, ensuring strong rental demand from professionals, expatriates, and families, perfect for people aiming to avoid traffic and have a hassle-free transportation. Its proximity to the city business centre, Makarios Avenue (the main city avenue), and the beach enhances accessibility, while amenities like shopping centres, restaurants, schools, and healthcare facilities are within walking distance.A three-floor development with a total of seven flats for sale, covering a combined area of 761 sqm on a 525 sqm plot of land. The building features six two-bedroom flats and one one-bedroom flat, designed to cater to the high-demand rental market of Limassol.*Notably, the second and third floors can be extended to transform the two-bedroom flats into three-bedroom units, maximizing rental income and value.Rental Income Potential:1st Floor: Two 2-bedroom flats at 2,200 each and a 1-bedroom flat at 1,800.Second Floor: Two 2-bedroom flats at 2,800 each. (Can be extended into 3- bedroom flats)Third Floor: Two 2-bedroom flats at 3,000 each. (Can be extended into 3- bedroom flats)Annual Rental Income:1st Floor: 6,200/month = 74,400/yearSecond Floor: 5,600/month = 67,200/yearThird Floor: 6,000/month = 72,000/yearTotal Annual Rental Income: 213,600With a selling price of 2,650,000, this results in a projected annual return on investment (ROI) of approximately 8.00%, not considering potential property value appreciation in this highly desirable area.This is a rare opportunity to invest in a property that combines strong rental yields with significant growth potential.
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Currency Exchange
5593, 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 €2,650,000 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 |
|---|---|---|---|
| €2,650,000 | £2,187,443 | £2,300,439 | £112,996 |
| Property Price € | €2,650,000 |
| Minimum cost in the last six months | £2,187,443 |
| Maximum cost in the last six months | £2,300,439 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £112,996 |
5593, 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 €2,650,000 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 |
|---|---|---|---|
| €2,650,000 | £2,187,443 | £2,300,439 | £112,996 |
| Property Price € | €2,650,000 |
| Minimum cost in the last six months | £2,187,443 |
| Maximum cost in the last six months | £2,300,439 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £112,996 |
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 £112,996 more.
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