(PRWEB UK) 3 February 2014
Lanitis Development Ltd has announced that the first phase of Alexander Heights, the latest and most luxurious real estate development at the multi award-winning Aphrodite Hills Resort, is on course for completion in March 2014.
Alexander Heights boasts a unique and unrivalled cliff-top location within the 5-star Resort, ensuring an uncommon degree of privacy for the residents of its exceptional Villas and Apartments. The development offers potential buyers a final opportunity to buy into this most prestigious establishment. Completion of the whole Phase I, is set for May 2014.
There are now very few properties still available for sale in this first phase of construction. So far to date, 8 Villas have been sold and only 2 are still available, whilst 2 Junior Villas and 7 Apartments have been sold, each with only 6 remaining.
In a bid to substantially reduce the cost of home ownership, the Government’s extension of the abolition of transfer fees is set in place until 31st December 2014 for any new property purchases, irrespective of the time taken for the property’s Title Deed to be transferred to the buyer. The law was officially published in the Cyprus Government Gazette (Issue 4363, 9th November 2012) and will remain in force throughout 2014. Previously required by Cyprus law, transfer fees of up to 8% of a property’s value were payable by the purchaser upon the transfer of their Title Deed.
As an additional benefit for those purchasing new private residences, 13% of VAT will be refunded. This existing tax incentive has been in place since 1st October 2011. The reduced rate of VAT to just 5% is applicable to the acquisition and/or the construction of new properties to be used as the primary and permanent place of residence.
To complement these existing Government incentives, Lanitis Development Ltd is offering generous discounts off the original asking price of all new properties at Alexander Heights.
The unprecedented combination of these flagship initiatives offers buyers a golden opportunity to purchase a property at the exclusive Alexander Heights development, saving thousands of Euros.
For further information, please contact the Aphrodite Hills Real Estate Sales Team:
Tel: +357 26 82 80 50
Facebook Page: Aphrodite Hills Real Estate