Residential Land In Peyia, Pegeia, Paphos

Description

Residential Land for Sale in Peyia.
This beautiful parcel of land is located northeast of the residential heart of Peyia Municipality, Paphos District is ready for development!

Great Investment opportunity, ideal for developing Villas, Luxury Houses, and Maisonettes. The Land is in close proximity to the sea and has perfect accessibility to surrounding areas. Plot size 12,496 sqm and is located near Potima Coastal Area (where the New Marina will be built). This large plot of land is located on the edge of a ravine with the potential of building large residences with unobstructed breath taking panoramic, mountain, city and sea views of the Mediterranean coastline.
This is a prime rectangular infrastructure shaped piece of land in Zoned Π3α (Residential Zone) with 25% building density, 25% coverage build with 2 floors due to angle/slope of land suitable for immediate development. The immediate area consists of semi-detached and detached tourist houses and large extents of undeveloped land. Note that a project evidently parallel exists, and also has a registered public road.

The area attracts a large number of foreign buyers due to its location and is very popular with both local and foreigners due to its proximity to the beach, shops, restaurants, amenities and most importantly due to its stunning views. Prospective developers/investors need to view this plot and is location to enable them to appreciate and understand the potential it holds.

Property Details
* For Sale
* Property Type: Land
* Property Subtype: Residential
* Location: Paphos, Pegeia, Cyprus
* Price: €1,950,000 Plus VAT
* VAT: Plus
* Date Available From: 29th October 2021
* Loan Installment: €9,558

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: €1,950,000

Own Contribution (30%): €585,000

Loan Amount (70%): €1,365,000

Interest rate: 3.2%

Years of repayment: 15 years