Kition in Larnaca

Name: Sales in Kition started!
Start: 2021-04-22T08:05:44.037606+00:00
End: 2023-12-31T23:59:59+0000
Location: Kition

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Project info

Object ID: 12004

Finished at	April 2022
Price, m²	From 18100$
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Square	from 109.00 m²
Floors	23
Apartments	50
Condition	Turnkey
Construction type	Monolyth
Security	—
Conveniences	Parking Kids playground Near school Near kindergarten Near supermarket Near hospital
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Personal discount certificate 300$
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Return on investment for apartment

with price

11,755$

Rental income

1,103$

Management

689$

Utilities

587$

5% Income tax

9,376$

Net profit

Month	Days in month	Occupancy, %	Occupancy, days	ADR	Total
January	31	16%	5	55$	275$
February	28	21%	6	55$	330$
March	31	12%	4	60$	240$
April	30	16%	5	60$	300$
May	31	25%	8	60$	480$
June	30	60%	18	80$	1440$
July	31	77%	24	120$	2880$
August	31	77%	24	130$	3120$
September	30	40%	12	100$	1200$
October	31	38%	12	60$	720$
November	30	23%	7	55$	385$
December	31	22%	7	55$	385$
Total	365		132		11755$
Average		35%		74$

Total invested

1,972,900$

Net profit

9,376$

Payback period

167.8 years

Avg property value increase per year

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About the project

KITION is located on Grigori Afxentiou Avenue. Upon completion, KITION will be the tallest building in Larnaca, rising to 23 floors. It consists of 50 residential units and is a high-rise development. The project will be the new point of reference as it rises majestically at the entrance of the Finikoudes promenade, overlooking the city. The interior of the project bears names such as Fendi, Versace and Zaha Hadid. Facilities include a restaurant, café, art gallery, bar, theatre and a luxury shopping plaza.

Kition comes alive within the historic city of Larnaka with its streamlined, dynamic and organic form, forever redefining the skyline. Kition revitalises the neighbourhood by breathing modern life into the historic Finikoudes Beach area.

Developer

Quality Property Developments is a premier privately-owned development company based in Cyprus. Quality Property Developments controls the …
Details about Quality Group