Full description:

Elysia Park Phase A
A fresh new approach to luxury living, Elysia Park encompasses the facilities of a 5 star hotel with the obvious benefits of stylish property ownership. Elysia Park enjoys a superb location in the heart of Kato Pafos, within short walking distance to sandy beaches and all amenities of Pafos town. This deluxe Mediterranean project will comprise 267 spacious 1, 2 and 3 bedroom apartments, penthouses and 48 private 2 bedroom terraced houses, set in lush landscaped grounds and centred around 2 of the largest residents waterfall swimming pools in Cyprus. Luxury finishes have been designed to complement each property style and maintain the highest levels of quality. This same high level of quality is extended to the external communal areas of the project. Within the gardens are facilities to meet the needs of every resident, including expansive poolside leisure areas, separate children's swimming pools and playgrounds and a practice basketball court. A lavish wellness centre, incorporating a spa, indoor heated swimming pool and state-of-the-art gymnasium, is situated on the grounds for the enjoyment of the residents. To cater for the busy professional, a business centre, wi-fi service and 24 hour hotel style reception will prove invaluable. This unique real estate opportunity will also boast the ultimate array of necessary facilities by incorporating a commercial centre featuring 10 outlets specifically chosen for their benefit to the Elysia Park residents. This commercial centre will probably include a bank, bakery, hair salon, kiosk, launderette, restaurant, pharmacy, and coffee shop.

We could not have made this hassles free, hands off purchase any more attractive or easy to manage for our clients if we had tried. Any property purchaser at Elysia Park will benefit from little or no involvement in the renting, maintaining, cleaning, and the marketing of their property for the next 5 years.

Ownership costs are not just kept to a minimum for the owner, they are nonexistent. With this offer all of the operating costs such as communal charges, property insurance, water rates, sewage, electricity bills and municipal charges are all included in the deal!

The Location

Nestled in the heart of downtown Paphos Elysia Park is surrounded by beautifully maintained gardens. The development is a short walk from local shops and amenities. Paphos harbour is a mere 15 minute walk where you can find dozens of beautiful sea side bars, cafes and restaurants where you can sit out and enjoy a meal while watching the sun set into the Mediterranean sea.

The Package

This is an example but the same criteria can be applied to every single property in Elysia Park (Availability can be found on our website: www.pafilia.com)

Property Value: ?260,000

Client?s contribution 10%: ?26,000
Pafilia Contribution 10%: ?26,000
Remaining Amount to Be Financed: ?208,000

? Please note that this is not a discount but a ?Developer Contribution?. The reason for this is because when the property is registered at the land registry it will be registered at ?260,000 and not ?234,000. This means that when the client wishes to sell the property they will pay less capital gains tax. If we had discounted the property the ?26,000 discount would be eligible for C.G.T (Capital Gains Tax) in any future sale by the client.

80% LTV Mortgage Available

? Financed is already arranged and in place with the banks. However please advise clients that all mortgages are full status and are dependent on client circumstances.

Rental guarantee Of 5% Net rental guarantee for 5 years

? All clients will avail of a 5% net rental guarantee for 5 years from date of purchase. Please note that the 5% is on the property value, less the developer contribution. So the above property would work out like this.

? Property value ?260,000
? Minus ?26,000 developer contribution
? Rental guarantee paid upon amount of = ?234,000

? A 5% net guaranteed rental income will produce a rental yield of ?11,700 net per annum

? The rental guarantee is paid on a monthly basis into an account of the client?s specification. All monies will be paid in ? Euro?s. The deal has been structured in a way as the client will not have to pay NO INCOME TAX on the rental income.

? The rental guarantee can be cancelled by the client at any time during the 5 year period with 30 days written notice.

Free 6x week?s usage per year for 5 years:

? The client can also use the property for their own use for 6 weeks of the year, every year for the next 5 years.

 2x weeks low season
 2x weeks mid season
 2x weeks high season

No Ownership Costs For 5 Years:

? After the initial contribution of 10% from the client they will not have to worry about fee?s, charges, or ownership costs for the duration of the rental guarantee period. They will pay no:

 Communal Charges
 Property Insurance
 Water rates
 Electricity
 Sewage
 Municipal charges
 Free usage of Gym, Sauna, Jacuzzi ect (This is normally a separate fee)

Furniture

Please note that the properties? come unfurnished. The clients will need to furnish the property themselves. Pafilia can assist in the furnishing of the property but clients can also furnish the property with IKEA furnishings saving on cost. Average cost of furnishing is:

? 1x bedroom property = ?13,000 - ?15,000
? 2x Bedroom property = ?16,000
? 3x Bedroom = ?21,000

In Closing

This is by far and away one of the very best deals on the market. You only need to find 10% of the property value.