Acropolis Panorama is a newly released development offering an exclusive opportunity to acquire a property in a highly desirable area of Cyprus, overlooking the breath taking Cypriot coastline with stunning Uninterrupted panoramic sea views.

Acropolis Panorama is luxury redefined.

Location

"Acropolis Panorama" is situated in a large plot to the west of the centre of Peyia Village, a popular destination for expatriates. The plot is amphitheatric in shape, with large level changes and beautiful views of the surrounding landscape, including unobstructed views of the coastline of Coral Bay and the proposed Marina site. A large part of the project borders an adjacent public green area. Access to the site is easy and only a 15 minutes to the center of Paphos town and just five minutes to the local beaches.

The Acropolis Panorama Club brings a new dimension to those wishing to follow an active and rewarding lifestyle abroad. All residents automatically become full members of The Club and are entitled to use all of the facilities within the environs of the community.

The dream of moving abroad in later life can bring many advantages not least of which is the weather, lifestyle, cost of living and of course lower taxation. The difference in climate is obvious but a little known benefit of retiring to the island of Cyprus is the flat retirement tax of just 5% on pension income.

With income tax in the UK set to rise even further in the coming years choosing a location with a benign tax regime is becoming of paramount importance to anyone with ongoing income or savings to protect.

Facilities

The Acropolis Panorama amenities include:

• Panoramic Sea views from all properties

• Central Piazza and meeting place for social events

• Large resort style swimming pool with water features

• Heated indoor pool, treatment spa, sauna, steam rooms and gym

• Individually controlled air conditioning cooling/heating

• Free furnishing and electrical package

• Satellite TV dish, telephone and Internet connection points

• High quality fixtures and marble floor tiles throughout

• Open plan contemporary fitted kitchen with granite work-tops

• Large master bedroom with en suite facilities

• Luxurious fitted bathrooms with high specification sanity ware

• Pressurized and energy saving solar heated water systems

• Fitted wardrobes in all bedrooms

• Large tiled balconies, all of which offer breath taking sea views

The Acropolis Panorama consists of ten large apartment buildings, two smaller complexes of bungalows, and four villas with private swimming pools and basements.

The apartment buildings are organized around a linear piazza complete with grassed areas, seating, trees and water features. At its eastern end is a swimming pool with built in Jacuzzi and waterfall feature. Opposite, the sea view unfolds. Below the piazza is the parking area, accessible by staircases and lifts. The piazza is also the access point to the health and treatment spa facilities and the covered, heated swimming pool. Below that, following the nature of the terrain, there is access to the outdoor pool for adults and a smaller one for children. The outdoor pool area has ample space for lounging / sunbathing, and borders the public green area. It also enjoys extensive sea views.

The health and treatment spa will include a fully equipped gym and sauna and steam rooms with a cascading shower. It will also house treatment rooms and manicure- pedicure services.

To the western side of the project, and close to the linear piazza is the club house area that will function as the heart of the project. Built as a courtyard building, it will provide residents with services not normally found in other developments. There will be a multifunction area for gatherings and other leisure activities. A restaurant and café with indoor and outdoor seating areas and a mini market will also service the residents for care free living. The reception and events organiser will also be located in the premises as well as the twenty four hour stand by medical officer, laundry and house keeping areas.

All the apartments enjoy sea and mountain views. All have large balconies; some have patios and gardens, and others have huge roof gardens furnished with private Jacuzzis and barbeque areas. All apartments are accessible to people with disabilities. The construction and finish material selection will be of top quality. All will be delivered with separate storage facilities in basement areas.

The villas are grouped in strategic locations, to maximize views and privacy. A full basement and parking will be provided for all of them. Options such as sauna, gym or any other use will be offered optionally.

The above description shows the essence of "Acropolis Panorama". This development will provide for a luxurious, care free and peaceful environment with all the amenities one could wish for.

Program of development features:

Club House

• Restaurant and cafe

• Gathering space and games room

• Administration office with events organiser

• Staffed medical centre

• Shop and mini market

• Laundry room and housekeeper

• Grounds keeper with storage

• Gate keeper room at main entrance

Health Spa

• Fully equipped gym

• Heated indoor pool with built in Jacuzzi

• Sauna

• Steam room

• Cascading shower

• Changing rooms

• Staff assistance area

Treatment Spa

• Two treatment rooms

• Manicure - pedicure

• Changing rooms

• Lobby with staff assistance area

External Areas

• Large piazza with water features and sitting areas

• Two large swimming pools with built in Jacuzzi

• Green area next to public green area

Parking

• Fully covered parking for almost all units with easy access to piazza and buildings
  Access

• Almost all areas on site are fully accessible for people with disabilities

• All common use spaces are fully accessible for people with disabilities

• All second floor units are accessible by lift

All units enjoy either large balconies or roof terraces. Ground level units will be provided with patios and landscaped gardens. All units except two level types will have the option to be converted to be accessible to people with disabilities.

Medical Services and Health care Abroad

Residents of pensionable age are entitled to free basic health care in Cyprus. In addition club members have the option of joining a discounted medical program through the local private hospital.

A private treatment room will be staffed twenty four hours by a stand by medical officer. All apartments and villas are fitted with a 24 hour emergency monitoring system and the club shuttle bus will operate a scheduled service to medical treatment centres.

Accounting and costs

In order to offer a quality lifestyle and ensure future property values at Acropolis Panorama Club the community will be fully maintained and serviced by professional staff. A quarterly membership fee will be charged to cover ongoing maintenance, pool and common area cleaning, administration, security, gardening, refuse collection, etc. All charges and fees will be transparent and annual accounts presented to the residents for consultation.

Taxation for Retirees in Cyprus

Cyprus which joined the EU in 2004 is setting itself up as a special tax haven for people with a wide range of incomes - not just millionaires. Better still, the favourable treatment of pensioners is not age related. It applies to anyone in receipt of pension income, including those taking early retirement. A double taxation treaty with Britain allows retirees to pay tax in Cyprus at a fixed rate of 5% on their pensions whether state, company or personal.

Properties

A choice of studios, one and two bedroom spacious apartments, maisonettes and villas are available for residents to lease or purchase outright. All of the properties come fully air-conditioned and furnished, ready to move into. There are no extra costs involved.

Investing in Acropolis Panorama Lifestyle Club

Investors can take advantage of the demand for leased homes at Acropolis Lifestyle Club with the on-site leasing office helping to co-ordinate leases and collect rentals where required. Unlike holiday homes with occasional weekly usage Lifestyle Club leases will provide year round income for investment.

There are a wide range of purchasing options available; ranging from deposits as low as 10% for investors (spread over a period of months) and longer term small deposit payments for purchasers who wish to retire to Cyprus and need to sell property in their current country of residency.

Financing

We realize that everyone's personal requirements are different and your use of the property as an investment or permanent home will dictate to some extent how it is financed.

Firstly, we have excellent financing arrangements in place with the Alpha Bank, one of the largest banks in Cyprus and can arrange a number of different types of mortgage. These range from interest only - for a given period, to mixed currency loans. Our aim is to make your purchase as financially efficient as possible.

If you are investing with the intention of sub-letting then a straight forward mortgage with an initial low deposit until completion and an interest only loan may be the answer.

Another possible scenario is occasional current occupancy ultimately leading on to full residency in time to come. With mortgages available up until the seventieth birthday of the youngest purchaser and no inheritance tax payable in Cyprus it can be very tax efficient to create a family purchase. Retirees taking up Cypriot residency pay just a flat 5% tax on earned income.

For purchasers wishing to retire and move to Cyprus upon completion of their property we can offer an assisted moving plan. Initially a low deposit is paid to hold the Cyprus property with further staged deposits paid to an agreed schedule and a mortgage arranged to finance the construction.

Please be assured that we are flexible with our purchasing plans and work alongside our clients to make their move to Cyprus as easy as possible. We do understand that it may take some time to actually sell an existing property and complete the financial arrangements for moving abroad.

Purchase Procedure

We are offering a secure no nonsense unit reservation scheme for anyone who wishes to purchase in Acropolis Panorama, no waiting lists or allocations equals no disappointment!

To reserve a property is simple and secure with a fully refundable reservation fee of €1000.

This holds your property choice for 4 weeks, giving you the opportunity to visit the development. We offer a £139 per person trip to Cyprus, which includes flights and hotel stay for 3 nights, giving you time to visit the project, meet our staff and answer any questions and then relax by the pool.

You will be met at the airport and escorted to the comfort of your hotel to relax and unwind. The following day our experienced property guide will accompany you to the site and be on hand to answer all your questions and introduce you to the bank, legal, administration and rental management personal involved in your purchase, all available for independent help and advice throughout the process of your purchase.

The payment terms for buying property in Cyprus has changed over the last year and most developers now require at least 40% deposit.

As we work closely with the developer, we are pleased to confirm only 5% deposit is required on contract and a further 5% can be paid in a flexible payment schedule later.

There is a further 10% required on completion with the remainder 80% available in the form of a Alpha Bank Flexi Mortgage with Alpha Bank Cyprus Ltd.

The terms are as follows:

• 5% deposit on exchange of contracts

• 5% deposit on a flexible payment schedule.

• 10% on completion with 80% mortgage with payments calculated over 35 years subject to age restriction.(Maximum of 70 years at end of term)

• Repayments: (Flexi Mortgage)
  For the first 5 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 5 years

In all the cases: Payments will be drawn down against building progress and interest will start to accrue from the date of the first draw down. 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.

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