Residential & Commercial Project at Polis
Project Details
This superb project is situated on the edge of Polis town and is a whole residential & commercial development of 105 units of town houses of 85 m2 each and 800 m2 of commercial properties.
Breakdown of project area:
Total area houses 10,700 m2
Total area shop unit 800 m2
Total area green area 3,420 m2
Total area roads / gardens 7,873 m2
Total overall area 22,793 m2
Project Characteristics
An exclusive project in Polis, within walking distance of one of the first golf courses which is one of the newest proposed golf developments in Cyprus.
Consisting of 105 units of town houses of 85 m2 each, 42 of the townhouses have already been built. In addition there is 800 m2 of commercial property which is ideally placed being adjacent to the main road leading to Polis.
The two bedroom townhouses have a covered area of 85 sq m. and front and back verandas of 20 m2 in total.
All the homes have fitted kitchens, downstairs cloakroom, and fitted wardrobes to both bedrooms plus a small garden which requires minimal maintenance, all have off-road parking. There is a communal swimming pool for the use of all residents.
All apartments come with fully assignable contracts, allowing resale at any time. Rental income estimated at more than 8 %.
These homes are ideal for investment purpose as well as for permanent or holiday homes.
Competitive Investment advantages:
* A deposit of only 30% of the total selling price of 20,076,066 Euro (6,022,820) is required to secure the project
* Selling of the 42 individual units already built would bring in over 70% return on down payment. Combined with a gradual increase in unit prices by 6% on a quarterly basis would enable higher profits in total.
* Purchasing the whole project granted discount would be 30%.
* The project has 800m2 of commercial properties which could be sold or rented out. Prices for commercial properties in Cyprus are 100 to 200% higher than residential. This part of the project could service the residents of this project and considering that is touching the main road of Polis could be very much in need for town centre shopping.
* The proposed Jack Nicklaus 18 hole international golf course and also the town centre of Polis are within walking distance of the project. This proposed Golf course would bring the rental potential of the units to higher demand as there are no other projects of this type in town centre available.
* The new highway from Paphos to Polis is due to be constructed with a completion date of 2012. This will decrease the current travelling time to Paphos airport from 30 minutes to 15 - 20 minutes.
* There are proposals for a new Marina to be developed at Polis.
* Delivery of project followed by completion of area development and large economic investments
Individual Customer Profile
We would expect to have clients who are between 40 ? 65 years old, looking for investment opportunity, home, holiday destination with rental potential, business opportunity and a second house.
The Area and Facilities
Polis is located North West of the region of Paphos and is a 30 minute drive from the town of Paphos , 56 minutes from Paphos airport and less than 2 hours away from Larnaca airport.
Polis is the ideal holiday location for the select few who appreciate authenticity and seek rest and tranquillity in a pleasant and friendly environment, which blends mountains, sea and plains with a wonderful healthy climate, a mild winter, a particularly warm clear sea and sandy beaches.
Polis has become a very popular area in Cyprus to buy property in, for this reason many changes are being made to meet the demand for residents.
There is a new highway soon to be under construction running from Polis to Paphos. After this highway is completed there will be easy access for people travelling to the different areas. It will then take approximately 15 minutes to get from Polis to the Paphos International airport.
Polis is also becoming a popular investment area. Future developments will include an 18 hole international golf course and a new Marina.
The town of Polis, part of the Paphos district and found in the Chrysochou area, is fast becoming a desired tourist destination. With its paved streets, is the central town square which is surrounded by local restaurants and taverns. There is a harmonized blend of peace and relaxation which promotes the laid back, relaxed lifestyle enjoyed by many.
Unlike other crowded towns, Polis still remains traditional and this has ensured that the nature of the area has not been destroyed through overdevelopment. Walking, hiking and cycling are possible as there are adventurous nature paths to explore on the Akamas Peninsula. Polis has an old harbour surrounded with fish taverns offering fresh fish with the streets crowded by locals and tourists.
The surrounding areas, boast rich flora and fauna and strong mythological links with Aphrodite the Goddess of love and beauty. The recently opened archaeological museum and the fascinating, ancient church of Ayios Andronikos are regularly visited places by tourists and locals.
The beaches along the Chrysochou Bay, with its crystal clear waters have received international recognition. The sunny climate compliments the variety of water sports provided. These sports include sailing, waterskiing, parasailing, diving excursions, renting jet ski?s , speed boats and much more.
Property Services
Property Sales
With our extensive knowledge and expertise of the Cyprus property market and our well established website and marketing expertise our company would be able to provide a service to promote the sale of properties on this project.
Property Management
Our Affiliate Management Company will be able to undertake to rent out properties on the project for prospective purchasers, including check-in and checkout the guests or visitors, protecting inventories and keeping properties clean and well stocked for guests or paying visitors. The properties can be rented out when the owners are not using them, and generate substantial rental income. House maintenance, cleaning services, gardening, pool maintenance are some of many services available to prospective clients.
Interior designers have carefully selected furniture packages from the renowned company to complete and enhance the built property. Several differently priced packages are offered and there is a range of wood finishes and fabric colours to choose from. Separate packages of accessories, bed linen, kitchen equipment and utensils, and electrical equipment can also be supplied to ensure that the apartments are fully equipped and ready for occupancy.
Financial Packages
Our company, in association with a number of commercial Banks in Cyprus, offers several attractive short-term and long-term financial packages. The standard packages offer long-term finance up to 30 years and up to 80% of the purchase price. It is also possible to offer other forms of finance tailored to suit to our clients individual needs. Furniture and white goods packages could be included in purchase price for individual buyers.
Rental Potential
Cyprus is blessed with one of the longest summer periods in Europe with at least 330 days of sunshine a year, with average temperatures that range from 16 c in the winter to 38 c in the summer months.
Due to the proximity of the proposed golf course this development at Polis will offer its clients the golf rental market, but holiday and long term rental as well due to the location.
ANTICIPATED RENTAL LEVELS FOR THE 2 BEDROOM TOWNHOUSES ARE AS FOLLOWS:
HIGH SEASON-MAY THROUGH SEPTEMBER - 22 WEEKS
(BASED ON 16 WEEKS TO ALLOW FOR 30% UNOCCUPANCY)
MID SEASON-OCTOBER,MARCH,APRIL ? 13 WEEKS
(BASED ON 9 WEEKS TO ALLOW FOR 30% UNOCCUPANCY)
OFF SEASON-NOVEMBER THROUGH FEBUARY ? 17 WEEKS
(BASED ON 12 WEEKS TO ALLOW FOR 30% UNOCCUPANCY)
ANNUAL AVERAGE POTENTIAL RENTAL WITH ALLOWANCE FOR 30% UN0CCUPANCY WOULD BRING OVER 8% RENTAL RETURN
Google Earth location - see image
The project is 3.3 Kilometres from Latchi Harbour and within walking distance of the sea.
To request further details please use the Contact Us link below.
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