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Cypress Gardens is located in the peaceful village of Kiti, 15 minutes drive south west of Larnaca town and the airport.
The development of 82 spacious apartments offers contemporary living in a serene and relaxed setting. The 2 bedroom, 2 bathroom apartments are set around a large communal swimming pool in luscious tropical landscaped gardens. Ground floor apartments have private gardens and the penthouses offer extensive roof terraces for making the most of the superb Cyprus weather.
Leisure facilities include a fully equipped gym, Jacuzzi and playground on site while the new 18 hole Championship golf course, scheduled to begin in 2007 is in the next village of Tersefanou, less than 5 minutes drive.
Project - Cypress Gardens, Kiti Village, Larnaca
This apartment complex will be built in a traditional Greek Cypriot style, 82 Luxury 2 Bedroom 2 Bathroom apartments are very spacious with generous private roof terraces with penthouses partially covered with wooden pergolas.
Apartments offered 2 bedroom and the prices are inclusive of white goods and split (hot/cold) air conditioning.
The development will be completed with extensively landscaped gardens and 1 large swimming pool, Jacuzzi and gymnasium.
Construction will commence June 2008 and will be completed June 2010.
The complex will be served by the Kiti Village, which has maintained a traditional Cypriot style, whilst comfortably blending modern facilities.
Prices For Two Bedrooms From £81,000 - £150,000
Price increase imminent (5-10% in New Year) Reserve now and save £1,000’s – With a non-risk deposit – 100% Refundable on Inspection.
Key Features
• All apartments are spacious and have excellent views.
• Communal Swimming Pools.
• Extensive Landscaping of communal areas.
• 5 Minutes from the beach .
• Only 20 minutes from Larnaca Airport & centre.
• 5 miles from the new Golf Resort in Tersefanou.
• VAT included in the price.
• Up to 3 years potential capital growth before completion.
• 20% Deposit - No Payments until completion - Interest Only for 5 Years
In Cyprus demand for property already outstrips supply therefore a growth in the numbers of those able to enter the market is resulting in an increase in the underlying value of properties with capital growth figures in the year to date in the region of an impressive 18% - and for a property investor this represents great immediate potential from an established market which is getting harder to come by as worldwide established property markets are slowing down.
Rental yields average between 5% - 9% dependant upon location. The weekly rental income for 2 bedroom apartments approximate rental range between CYP £200 low season to CYP 350 a week in high season.
The planned creation of a Golf Resort in the Tersefanou area, has led to considerable increases in property values in the surrounding areas which will also affect the rental yield as there will be an increase in demand for rental.
The project is in association with the Alpha Bank and will provide the mortgage facility. Under current guidance from the Central Bank, first property purchased in Cyprus you will be able to apply for a 80% mortgage.
Example of a purchase for a property - CYP £80,000
Deposit 20% (Including CYP £2,000 Reservation Fees) CYP £16,000
Loan Amount £64,000
Loan Period 20 Years
Swiss Francs - 4.8%
Monthly Payments
No Payment until Delivery
60 months Interest Only - CYP £288.63 per month
60 months - CYP £392.09
216 months - CYP £453.68
These figures are subject to change due to changes in the interest rate & Subject to clients status.
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