SUMMARY FEATURES

• Villas just 228,000 CYP (£263,112*)
• 4 Year all inclusive scheme
• Mortgage payments covered through build and rent period ( 4 years )
• 4 years price growth for just one 20% down payment
• Current growth 20% per annum That's 244,780 CPY (£282,476) profit for 20% down
• Furniture included
• 24 ft private pool
• 6 weeks off peak usage for yourself
• Swiss Franc mortgages available-Low rate under 4%
• 80% mortgages available in all currencies
• Management and letting programme available after 2 year period
• Just a 30 minute drive from Larnaca airport

Quick links - click below

The Development

Floor plans and development plans

Specification

Rental

Developer

Why Cyprus

Protaras

Financial

The development

A small development of just 17 villas and two blocks of apartments beautifully located in Protaras in an elevated position and within 5 minutes walk to Green Bay beach.

Most Villas will have a sea or mountain view.

Protaras centre is just a 15 minute walk away making this an ideal location away from the centre yet close to everything you will need. Fantastic beaches, bars, restaurants, boat trips, diving and a new golf course can all be reached on foot.

The villas are a good size at 1290 sq/ft and come complete with furniture and a 24 ft private pool. Each bedroom has an en suite which makes it ideal for the holiday market

All you need to do is move in. It is as simple as that.

Floor Plans and Development plan

The villas offer a great layout and room sizes to match.

Ground floor

First floor

Development Plan

The specification is impressive to

• Includes fully fitted kitchen in beech.

• Granite tops

• Granite sink and all fittings.

• fridge/freezer, dish washer, washing machine, microwave, oven, cooker top, hob, extractor.

• 42” Plasma TV, Playstation2, Satellite, DVD Player

• Fitted wardrobes in beech MDF to all bedrooms
• Air conditioning
• 3+2 seater couches, wall pictures, coffee tables.
• Patio Table and six chairs, Barbecue
• Plus much more

Rental

These villas will be on a two year rental programme so revenue is guaranteed for that period.

After the two years there is an option to continue with the English run management company who will let the villa on your behalf

The Developer

The developer is a medium size local private based builder in Protaras.

They have specialised for many years in the construction of commercial buildings such as Banks, Hotels etc and exclusive custom built houses for the top 5% of the housing market.

Last year they sold over 130 units and are recognised in the area as premier builders of high standard homes

Why Cyprus

Cyprus is a beautiful Island which enjoys 325+ days sunshine a year. It is popular with tourist in both Summer and winter. In fact when we visited and began our research in early January the hotel we stayed in was 75% full and the weather was fantastic.

Just consider the points below

• Cyprus joined the EU in 2004
• They have announced the currency change to the Euro in 2008
• Mortgages can be taken out in most currencies so rates are low
• It is the third largest Mediterranean island
• Strict building controls allow for in the main only 2 storey buildings
• It is still a small Island and therefore limits development creating greater demand than supply
• One of the fastest growing property markets in Europe.
• Property prices increasing at around 20% per annum.
• Booming holiday rental market with huge increase in tourism.
• Favorable tax regime of only 10% corporate tax
• Pension income taxed at only 5%.
• No inheritance tax
• Legal system according to UK standards.
• Properties in Cyprus significantly lower priced than competitive markets of Portugal, Spain
• Economically stable.
• Low cost of living.

About Protaras

The Protaras area is located approximately 40 km from Larnaca airport which is a major plus for renting to holiday makers.

It is generally recognised as a finished resort with little or no building work. It is very much a family orientated area with only one disco, numerous bars, restaurants, shops and supermarkets.

There are numerous beautiful un spoilt beaches with Fig Tree Bay being the most recognised. 22 of the beaches in the area are European designated blue flag.

The construction of a new golf course and the expansion of Larnaca airport is expected to increase the already lengthy holiday period to all year round. With the advent of cheap flights the tourism is expected to increase to 3.5 million within 4 years.

Not far away is the village of Paralimni which is the main centre for Cypriot locals.

Ayia Napa ( 10 km away ) is where you will find one of Europe's largest water Parks. For teenagers it has a much livelier nightlife to suit the younger tastes.

Financial

This is an interesting deal which should see great house price growth over the two year build programme and the two year rental programme.

With just 20% down your initial investment could grow by 20% a year over the next 4 years giving you a profit of 244,780 CYP (£282,476*) without having to pay one mortgage payment or running costs

• 20% down and then no mortgage to pay for 4 years
• Developer pays mortgage payments during construction period
• Rental guarantee for two years covers mortgage for two further years
• 80% low rate mortgages available
• 2000 CPY to reserve
• 4 years price growth for 20% down
• 105,814 Cyp (£122,109*)growth over 4 years at 10%*
• 244,780 Cyp (£282,476*) growth over 4 years at 20%*