Academia Tower in Larnaca

Name: Sales in Academia Tower started!
Start: 2021-04-27T08:05:39.635919+00:00
End: 2023-12-31T23:59:59+0000
Location: Academia Tower

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Project info

Object ID: 12054

Finished at	November 2021
Price, m²	From 2535$
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Square	from 80.00 m²
Floors	7
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

10,605$

Rental income

1,103$

Management

689$

Utilities

530$

5% Income tax

8,283$

Net profit

Month	Days in month	Occupancy, %	Occupancy, days	ADR	Total
January	31	16%	5	50$	250$
February	28	21%	6	50$	300$
March	31	16%	5	55$	275$
April	30	16%	5	60$	300$
May	31	32%	10	60$	600$
June	30	60%	18	70$	1260$
July	31	80%	25	95$	2375$
August	31	80%	25	100$	2500$
September	30	46%	14	75$	1050$
October	31	45%	14	60$	840$
November	30	30%	9	50$	450$
December	31	29%	9	45$	405$
Total	365		145		10605$
Average		39%		64$

Total invested

202,800$

Net profit

8,283$

Payback period

19.1 years

Avg property value increase per year

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About the project

Academia Tower is a 7-floor luxury apartment building excellently located in Larnaca town centre in a quiet residential area behind the American Academy school and close to amenities. The famous Finikoudes sea promenade is in a walking distance. Larnaca also hosts the main International Airport at a distance of 8.3 km.

Three apartments are allocated to each floor, all of which consist of open plan living and kitchen area, 2 bedrooms (master with en-suite shower), main bathroom, and covered veranda.

The top floor apartments located on the 6th floor enjoy individual access to their private roof garden on 7th floor hosting the 3rd bedroom, wc/shower room and barbeque area. These flats also benefit from solar panel net metering, offering the prospective buyer an extra financial incentive.

Developer

Newzoe Developers Ltd, a member of the Palourtis Real Estate Agents Ltd. Group established in 1970, is a company in the development of land …
Details about Newzoe