First wave of fractionals from Cypriot developer

Coral View Club Alpha Panareti fractional real estateCypriot developer Alpha Panareti has launched its first fractional real estate programme, and plans to roll out the concept to further developments across the island.

The Coral View Club consists of 75 properties grouped around a swimming pool on the edge of the village of Peyia, a five minute drive from Coral Bay and 30 minutes from Paphos airport.

The units have views across countryside to the sea, with many featuring terraces or verandahs. A selection of fully furnished studios (priced at €15, 647 or £13,075 for a 1/12th share), one-bedroom apartments (€22,357 or £18,675) and two-bedroom townhouses (€35,091 £30,514) are being offered on a fractional freehold basis.

These prices include three years' management fees, Sky TV subscription, utility charges, insurance costs and local taxes.

All transactions are being managed by an independent trustee, and the company has also secured mortgage funding from a UK bank for purchasers. They can offer up to 100 per cent funding, with a limit of £25,000 per individual or £50,000 per couple, subject to status.

These units offered for fractional purchase, are all key-ready and available for use now, with more soon to be available on other developments. Later in the year, the company will be launching off-plan fractional sales at high-end developments such as a golf and country Club near Limassol and a private marina development near Larnaca.

The fractions are available through several UK agents and the company is recruiting more additions to its agent network. It also welcomes enquiries from both clients and agents abroad. Appropriate purchasing and financial arrangements will be made for non-UK buyers.




Add your comment

image description