Residential Building Next to a Green Area with 7 Apartments Under Construction, Larnaca Area

Residential Building next to a green area with 7 apartments – Under Construction, Larnaca (Area) An attractive residential investment under construction in Larnaca (area), located in a well-established residential neighborhood with excellent access to schools, amenities, and main road connections, such as Limassol and Nicosia. The project consists of a modern, building over four floors, designed to deliver stable long-term rental income and capital appreciation on completion. The building offers a strong mix of two-bedroom apartments and a premium three-bedroom penthouse, all featuring generous verandas and high-quality specifications. Asking Price & Acquisition Cost Asking price: €1,650,000 VAT (19%): €313,500 Total acquisition cost: €1,650,000 (VAT subject to buyer profile and intended use.) Building Overview Total apartments: 7 Floors: 4 Unit mix: 6 × Two-Bedroom apartments (Floors 1–3) 1 × Three-Bedroom Penthouse (Floor 4) Total internal covered area: approx. Total covered verandas: approx. Total uncovered verandas / roof terraces: approx. Private covered parking & storage rooms Lift and communal areas Ac units in all apartments Modern architectural design Status: Under construction, Delivery July 27 Rental Income Projection (Long-Term, Furnished) Two-Bedroom Apartments (6 Units) Estimated rent: €1,000 / month per unit Monthly income: €6,000 Annual income: €72,000 Three-Bedroom Penthouse (1 Unit) Estimated rent: €1,500 / month Annual income: €18,000 Total Estimated Rental Income Monthly rental income: €7,500 Annual rental income: €90,000 Gross Yield Analysis Gross yield (on asking price €1,650,000): ≈ 5.45% Gross yield (on total cost incl. VAT €1,650,000): ≈ 4.58% (Gross yield calculated before management, maintenance, vacancy, insurance, and taxation.) Capital Appreciation – Larnaca Performance Over the Last 5 Years Larnaca has emerged as one of Cyprus’ fastest-improving residential markets, benefiting from infrastructure investment, affordability relative to Limassol, and growing demand from both locals and international buyers. National Cyprus House Price Index increased by approximately 9–10% over the past five years Larnaca has shown above-average momentum in apartment prices, driven by limited supply of modern developments Strong demand from professionals, families, and long-term tenants Outlook for the Next 5 Years Larnaca’s medium-term outlook remains positive, supported by both public and private sector investment. Indicative capital growth scenarios (not guarantees): Conservative: 2–3% p.a. Base case: 3–5% p.a. Upside scenario: 5–7% p.a. Key drivers: Continued regeneration and infrastructure upgrades Proximity to Larnaca, airport, and highway network Growing rental demand with limited new supply in established areas Increasing investor interest in mid-sized residential blocks ------------------------- Apartment Breakdown & Areas: First Floor – 2 Bedrooms / 2 Bathrooms Internal covered area: 84 sq.m. Covered verandas: 48 sq.m. Total area: 132 sq.m. Can be converted to a 3 bedroom apartment potentially. Storage room & covered parking – 2 Bedrooms / 2 Bathrooms Internal covered area: 80 sq.m. Covered verandas: 23 sq.m. Total area: 103 sq.m. Storage room & covered parking Second Floor – 2 Bedrooms / 2 Bathrooms Internal covered area: 80 sq.m. Covered verandas: 23 sq.m. Total area: 103 sq.m. Storage room & covered parking Third Floor – 2 Bedrooms / 2 Bathrooms Internal covered area: 80 sq.m. Covered verandas: 23 sq.m. Total area: 103 sq.m. Storage room & covered parking Three-Bedroom Apartments (Floors 2 & 3) – 3 Bedrooms / 2 Bathrooms Internal covered area: 97 sq.m. Covered verandas: 27 sq.m. Total area: 124 sq.m. – 3 Bedrooms / 2 Bathrooms Internal covered area: 97 sq.m. Covered verandas: 27 sq.m. Total area: 124 sq.m. Penthouse – Fourth Floor – 3 Bedrooms / 2 Bathrooms (Penthouse) Internal covered area: 102 sq.m. Covered verandas: 32 sq.m. Uncovered verandas / roof terraces: 100 sq.m. Total area: 234 sq.m. Private roof terraces Enhanced solar panel system Premium lifestyle unit with strong resale appeal Key Features Spacious open-plan living, dining, and kitchen areas Generous verandas suitable for outdoor dining Modern finishes and energy-efficient design A/C units included in all apartments Solar panels included Private parking & storage for each unit Building Energy Performance: The building is Energy Performance "A" 2KV photovoltaic system will be installed in the communal areas. 3KV photovoltaic system will be installed in Contact Lextrus Real Estate today for more information or to arrange a viewing