Development of the house with 10 flats in Limassol



Object №29642
City: Limassol
Area: Germasogeia


Pool: Yes
Appliances: Yes
Furniture: Yes
Air conditioning: Yes
Parking: Yes
Payback: 2 years
IRR: 32%
ROI: 28%
Implementation: 24 months
€ 2 133 000
+357 25 212 212


The investment project provides for the construction of a block of apartments consisting of 12 double/single apartments, with a high yield in Limassol, germasoyia district (Golden Mile).

The Residential Building project consists of 12 apartments with an area of 51 m2 +12 m2 covered balcony.

Private Parking for 12 cars, individually controlled air conditioning, Central solar system for water heating, Central antenna, Wi-Fi, fully equipped bathroom (sink + toilet + bath), built-in wardrobes, kitchenette, balconies with sea, mountain and city views. 

The plot is located in the elite area of Germasogeia, 700 meters from the sea, the so-called "Golden Mile".

The area where shops, bars, office centers and new residential complexes are located.

The plot of 605 m2.

The total area of the house is 870 m2, a block of 12 apartments of 51m2 with 12m2 balconies, 12 Parking spaces and a swimming pool.

The division of apartments into 1 or 2 bedrooms can be changed by the architect of the project in its initial stage.

Subject to the implementation of the project for obtaining a passport of Cyprus-a separate penthouse for the owner with an operated roof with a private garden is provided.

The total cost of the turnkey project is 2,133,000 euros.

Revenue part of the project with two options for its implementation:

1.   Apartments for sale 12 x 250,000 = 3,000,000 euros

IRR of 32% ( revenue 693 000 euros)  ROI 28% (net profit of EUR 610 000)

2.      Apartments for rent at 1300 euros per 1 unit = 1300 x 12 = 15,600 x 12 = 202,800 euros

IRR 9.6% (revenue 202,800 euros ) ROI 8.4 % (net profit 177,450 euros) 

If you invest money through the company-19% VAT (123 500 euros) is refundable within a year.

The implementation of this project gives the investor the opportunity to get a Cyprus passport with a return of 25% of the invested funds for 3 years of renting.

If the entire project is implemented in 5 years, the investor will withdraw from the project having returned their initial investment of 2.1 million euros and will keep 2 apartments in the asset + Cyprus passport + will receive a profit of about 600,000 euros.

Read more ...
More info:
Rostislav Bondar
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Компания «Dom Real Estate» Контакты:
Адрес: Limassol, Cyprus,
Телефон:+357 25 212 212, Электронная почта: info@dom.com.cy
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