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Cypriot 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 being offered on a fractional basis - 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) 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 in the UK are being managed by independent trustees FNTC and Barclays are providing the funding.
The 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.
Alpha Panareti are currently seeking master agents throughout Europe and the Far East.