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Z.E. Properties 4U Ltd offers exclusive new apartments in Greek Cyprus, perfect for both living and high-yield investment. The Kitty project, presents a prime opportunity for buyers seeking good quality homes
inventory 6 apartments of different sizes.
In Kiti, a suburb of Larnaca, 3 km from Larnaca Airport.
An internal street 20 meters from the main road of the settlement, a former village that became a town of about 6000 people..
The central town of several villages around where all the services of the area are focused.
In the place of high level services – a bank, restaurants, bakeries, coffee shops, giant supermarket, clinics, vet, a gim, a school 200 meters away.
Relatively quiet street.
Distance from the center of Larnaca – 10 minutes driving at medium speed.
Distance from the sea – about 5 minutes drive.
A picturesque, charming and quiet beach.
The place is sought after by European citizens and also Cypriots.
| Apt | Floor | Bedroom | Flat Area (sqm) | Covered Balcony (sqm) | Ground Floor Parking (sqm) | Ground Floor Storage (sqm) | Price before VAT |
|---|---|---|---|---|---|---|---|
| 101 | 1 | 2 | 72 | 12.2 | 11.3 | 4.9 | 185,000€ |
| 102 | 1 | 1 | 46 | 8.2 | 11.3 | 4.8 | 148,000€ |
| 103 | 1 | 2 | 73.8 | 11.4 | 11.3 | 4.8 | 188,000€ |
| 201 | 2 | 2 | 72 | 12.2 | 16.5 disabled | 7.3 | 190,000€ |
| 202 | 2 | 1 | 46.3 | 10.8 | 11.3 | 3.9 | 150,000€ |
| 203 | 2 | 2 | 73.8 | 11.4 | 11.3 | 5.2 | 188,000€ |
1. According to the laws of the State of Cyprus, the payment of VAT on the purchase of a residential apartment is as follows:
If it is your first apartment purchase in Cyprus you will pay 5% (to the extent which is above the prices of our apartments), or 19% according to the following rules:
If you intend to live in an apartment (this is what people are usually declair) you will pay 5%. The VAT Department is the only one that determines the percentage of VAT that the buyer will pay.
To pay a reduced percentage of VAT of 5%, the buyer will submit an application to the VAT Department after signing the purchase agreement. You can use our accountant to submit the application.
If you rent the apartment for short term, for example through AirBNB, you will only pay 9%. In this case, each rental made, you should include the 9% in the rental price.
Keep in mind that if you opt to use your apartment for Airbnb, then as this is a business, you would be entitled to reclaim back the VAT which you have paid on the basic apartment price by offsetting it against any VAT you charge your customers. Please note that if your annual income is below €15.600 then you are not required to register for VAT, but this is not advisable as you will not be able to reclaim the VAT on the purchase price.
If you rent the apartment long-term, you will pay on the purchase 19% VAT.
In any case, from our point of view the VAT is not part of the deal, but money that goes from your pocket to the state’s pocket.
2. Our prices are linked to the “Construction Price Index” (labor and materials in Cyprus). Any price increase in inputs will be brought to the attention of the buyers and approved by them. If the information would not confirmed, the buyers could withdraw from the purchase agreement, subject to the terms of the agreement.
3. Everything said here is not professional advice but general information only. Each buyer must consult his/her accountant or attorney on these issues.
1. Since the construction is at an advanced stage and about 85% of it has already been carried out, you will pay about 80% of the price of the apartment when signing the purchase agreement. However, in special cases, we can consider some flexibility in this payment.
2. The remaining payment of about 20% will be spread over several payments at one-month intervals, depending on the date of purchase and the remaining time until receiving the apartment.
3. In any case, you will not be able to receive the key to the apartment and it will not be transferred to your name at the Larnaca Land registration Office, but only after all payments have been made, including taxes to the authorities, if you are obligated to pay them.
The plot and the building are privately owned. registered in the Land Registry of Larnaca.
Each buyer will receive an immediate special registration by a lawyer, which will guarantee his rights.
The building and the land are registered in the Land Registry of Larnaca under the name of the company – Z.E Properties 4U Ltd.
Any issue concerning the project will be discussed according to the laws of the State of Cyprus and by its institutions only.
About 85% of the building is Already built.
Completion of construction expected to be between 2 months from 21/1/25, subject to the flow of financing for the continuation of construction by the buyers, according to stages defined in the purchase agreement.
It is important to know that if you sign a purchase agreement even before we have installed the sanitary ware, you would get the option to choose your interior design, by financing the difference between the specifications we offer and your choice. At a later stage, if additions and repairs are required, they will be priced and made for an additional fee.
A sought-after neighborhood/suburb where apartment prices rise every year.
The assessment of real estate agents in the area is that there will be a 70% increase in apartment prices within 5 years, that is, an average rise of 14% per year on the value of the property alone!
1. If you buy the apartment for your residence you get a peaceful area rich in services, very accessible to main roads to all cities in Cyprus.
2. If you buy the apartment as an investment:
If for Long-term rental – from a test we conducted, you can get an annual return of about 6-7% on a long-term rental. It is possible to help you obtaining tenants. the demand is great and the supply is relatively small.
If for short-term rental – you can advertise the apartment on websites such as: Airbnb and others and rent the property short-term on a nightly basis.
We can help prepare the house for rent and get a management company to manage the property, bringing in tenants, cleaning, etc.
We can connect you with reliable professionals who will be able to come to the property and take care of problems if they arise.
In the case of reaching a short-term rental, in our opinion, an annual return of about 14-18% is possible.
Orestiados 38, Larnaca
+357-99883351/2 Both on WhatsApp and Viber
ze.properties.4u@gmail.com
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