If you wish to borrow from a bank, please find above indication of the loan installment with the assumptions used below.
Loan Installment Calculations:
Closing Price: €3,500,000
Own Contribution (35%): €1,225,000
Loan Amount (65%): €2,275,000
Interest rate: 3.8%
Years of repayment: 15 years
The property consists of five plots of land with a total area of 5.462m² located in the Katholiki area of Limassol. The plot enjoys substantial frontage.
The immediate surrounding area is mainly residential although the plots are mixed use . All plots are considered ready for development.
Each plot can be developed individually or combined to form a unified development with an overall plot equal to 5,462, providing a permitted density of 7.647m², although one could achieve a higher subject to conditions an additional floor level.
The development plan provides for certain incentives for such large plots, adding building coefficient.
Plot sizes: 540m²,504m²,504m²,491m²,3423m² building density 140%-coverage 50%.