Residential Land In Zakaki, Limassol

Description

This is an amazing piece of land near the Limassol Casino, the Mall and the new Golf course which will commence very soon. The building density is 100% and has a coverage of 50% allowing 3 floors of up to 13.5 metres at present. There is an application for the change of building density which has unofficially been confirmed, due to the high demand of the area and the new high storey constructions taking place such as the Casino, the Hotel etc. There are houses on the plot therefore there is no VAT

Property Details
* For Sale
* Property Type: Land
* Property Subtype: Residential
* Location: Limassol, Zakaki, Cyprus
* Price: €5,500,000
* VAT: N/A
* Loan Installment: €26,959

If you wish to borrow from a bank, please find above indication of the loan installment with the assumptions used below.

Loan Installment Calculations:

Assumptions:

Closing Price: €5,500,000

Own Contribution (30%): €1,650,000

Loan Amount (70%): €3,850,000

Interest rate: 3.2%

Years of repayment: 15 years