THE RESIDENCE – LUXURY APARTMENTS IN PAPHOS

A unique development of luxuriously appointed apartments created for living.

The Residence communal amenities will include:

• A large indoor heated Swimming Pool with changing rooms and a relaxation area
• Fully equipped gymnasium offering the latest in fitness equipment
• A Sauna
• In the Lobby, a beautifully marbled entrance hall with elegant design furniture
• Covered car parking space is allocated to each apartment and guest parking

The Residence development is located in Moutallos, which due to its elevated position, offers stunning views of the Paphos coastline. It is situated within a short walk of upper Paphos, the residential center and also the commercial and administrative heart of the town.

Among the many attractions of upper Paphos is the local market, with an abundance of seasonal fruits and vegetables and an extensive selection of freshly- fished seafood. It also offers a wide range of shops, bars and local taverns.

On the South East coast of the island, Paphos is divided into the upper and lower town. the lower town is a tourist area concentrated around it's colorful harbor boasting a wide range of sea front bars, restaurants and numerous luxury hotels. Modern shops, boutiques, cafes and restaurants combine perfectly with areas of great historical significance.

The Residence Luxury Apartments offer these inclusive extras:

• Individually controlled air conditioning cooling/heating
• Fitted plasma TV screen
• Satellite TV telephone internet connection points
• Marble floor tiles, with timber floor as an option
• Open plan contemporary fitted kitchen with granite work-tops
• Master bedroom with en suite facilities
• Luxuriously fitted bathrooms with high specification sanitary ware
• Pressurized water system
• Fitted wardrobes in all bedrooms
• Solar water heating system
• Large tiled balconies. many of which offer sea views
• 2 lifts serving all floors
• Guaranteed title deed

Lobby Area

Beautifully marbled entrance hall with elegant design furniture

Leisure Facilities

• Heated indoor swimming pool, with changing rooms and a relaxation area
• Fully equipped gymnasium offering the latest in fitness equipment
• Sauna

Car Parking

• One covered car parking space is allocated to each apartment
• Separate on site parking for guests

Prices:

2 bedroom apartments from CYP 118,062 (or Euros 201,720)

Prices include VAT at 15%

Prices subject to change without further notice!

Exchange rate, subject to change: 1 British Pound – 1.2 CYP

Attractive Payment terms:

Reservation fee of CYP 2,000

15 % less reservation fee within 30 days payable at signing the sales contracts

5% on completion

80% mortgage on completion!

Completion: 2010

The Residence Flexi Mortgage

A minimum of 20% from your own resources, payable as:

• 15% on signing the contract
• 5% on completion of the property
• A maximum of 80% as a mortgage loan, with payments calculated over 35 years subject to age restriction. (maximum of 70 years at the end of term)

Interest rate: Bank margin of 1.75% plus the 3 month LIBOR rate on the CHF

Repayments

• For the first 3 years - interest only
• For the next 5 years - interest plus capital
• Remainder of the term - interest plus capital, including the postponed capital sum due from the first 3 years

In all the cases payments will be drawn down against building progress and the interest will start to accrue from the date of the first draw down.
A 'grace period' within the full term loan means the first repayment will be made one month after taking delivery of the property.
Mortgages may be reduced by lump sum payments or paid in full with no penalty

Area Information

Paphos is rich in archaeological sites and is a declared UNESCO World Heritage Site.

The Tomb of the Kings dates back to 300 BC and can be found in lower Paphos. There are more than 100 tombs cut into solid rock, with carved steps leading down into burial chambers.

Legend has it that Aphrodite, the Greek goddess of love, was born in the waters near Paphos at Aphrodite's Rock.

Beyond the town of Paphos is the unspoiled Akamas peninsular, a spectacular national park with dramatic coastlines.

The nearby areas of Coral Bay and Polis provide stunning scenery and beautiful sandy beaches.

For the sporting enthusiast there are 3 spectacular golf courses close by, including the award winning Aphrodite Hills 18 Hole championship standard golf course

Approximate distance from The Residence development

• 10 minute walk to upper Paphos town center
• 20 minute walk to the beach
• 20 minute walk to the Tomb of the Kings
• 5 minute walk to the local school
• 5 minute drive to the tourist area
• 10 minute drive to Paphos general hospital
• 20 minute drive to a choice of 3 golf courses
• 20 minute drive to Paphos international airport

Location

Address Paphos, Moutallos

Sales contacts

Telephone 0161 904 0004