Your assumptions. Transparent maths.
Does the deal work?
Change the figures and compare outcomes. Costs are unquoted allowances; exit prices are hypothetical. The result is not a valuation.
Surplus excludes capital gains / income taxes. Include applicable transaction taxes in acquisition costs. Inputs remain in this browser tab and are not saved. Printing includes the current scenario and the original research below.
Decision
Investigate Sotiros VL55475 first. It is not yet a proven golden deal. It best fits the agreed brief among the candidates reviewed: a resale house with renovation potential below a €250,000 purchase price. This targeted public-listing review is not an exhaustive market search or an automated inventory scan.
Leading candidate
P. N. Nicolaou Estates — VL55475 ↗
The live agency page advertises €195,000, three bedrooms, one bathroom, 160 m² internal space and a 417 m² corner plot in Sotiros. It dates the building to 1955, states a separate title deed exists and describes storage converted into two rooms. It explicitly flags archaeological importance and Antiquities clearance for future development. These are seller-side statements; title, permissions and condition have not been independently checked.
The page lists an open house Friday 18 September 2026, 10:00–11:00, and contact +357 95598488. Confirm availability and viewing time before travel. No enquiry was sent or viewing booked.
Derived asking price: €1,219 per internal m². This is a screening ratio, not an appraisal. The €55,000 difference from the purchase cap is not an all-in renovation budget.
Other live asking-price evidence
| Listing | Asking price | Advertised facts | Assessment |
|---|---|---|---|
| DOM Sotiros 207828 ↗ | €270,000 | Renovated, 4 beds, 118 m² indoors / 130 m² total, 220 m² plot | Same-area reference; smaller land and different condition. Not a completed sale. |
| MPA Pyla 67083 ↗ | €250,000 | 4 beds, 130 m² internal, 2008, communal pool | More modern fallback at the cap; fees and occupancy need checking. |
| Cyprus Life Oroklini 10941 ↗ | €250,000 | 2 beds, 120 m² internal, 160 m² plot, 2006 | Smaller house/plot, different locality. |
| Investia Drosia 8319 ↗ | €250,000 | 2 beds, 242 m² plot | Internal area unavailable in reviewed evidence; insufficient discount evidence. |
The €75,000 asking-price gap to the renovated Sotiros reference is not profit or a measured discount. Condition, layout, land and permissions differ. No sold comparables were verified. Valuation confidence is low; €300,000 below is hypothetical, not a supported resale valuation.
Cost test at €195,000 purchase
Planning assumptions only; obtain property-specific quotes. Renovation includes an unquoted contingency. Acquisition costs are a placeholder for legal, survey and applicable transaction costs, not a tax calculation. Holding/financing is also a placeholder.
| Item | Assumption |
|---|---|
| Purchase | €195,000 |
| Renovation including contingency | €50,000 |
| Acquisition costs | €10,000 |
| Holding / financing | €8,000 |
| Cash costs before sale | €263,000 |
| Selling expenses | 5% of exit price |
| Hypothetical exit | Selling expenses | Surplus before profit taxes |
|---|---|---|
| €270,000 | €13,500 | −€6,500 |
| €300,000 | €15,000 | €22,000 |
| €330,000 | €16,500 | €50,500 |
Break-even exit: €276,842. The €300,000 scenario returns 8.4% on entered costs before profit taxes, not annualised. If renovation reaches €80,000 and holding €15,000, costs reach €300,000 and the same €300,000 exit loses €15,000 before profit taxes. If your budget means €250,000 all-in, the base case is already €13,000 over it before selling expenses.
A €30,000 pre-tax surplus at a €300,000 exit supports a maximum purchase of €187,000, using the other base assumptions. This is a conditional arithmetic ceiling, not market value or an instruction to offer. At a €270,000 exit the equivalent ceiling is €158,500.
Evidence required before an offer
- Obtain availability, occupancy, title, cadastral reference, approved plans and documents for converted rooms. Ask an independent lawyer to check encumbrances and whether the registered property matches the buildings.
- Ask an independent architect and relevant authority what the archaeological designation means for the specific proposed work. Do not assume demolition, extension or additional floors are available.
- Obtain a condition survey and itemised refurbishment quote covering structure, roof, damp, electrics and plumbing. Confirm measured areas.
- Obtain comparable completed sales and an independent resale assessment; one renovated asking-price listing is insufficient.
- Replace cost placeholders with quotes and property-specific tax treatment. Rerun the calculator before negotiating.
Quality controls
- Altamira PR45060 ↗: €191,000 search result, but primary page stated no longer available; excluded.
- A €150,000 NCH Sotiros result could not be confirmed as currently available; excluded.
- A €250,000 Propwell Oroklini result led to a missing-property page; excluded.
- Cross-listed copies of VL55475 count as one property, not independent comparables. Conflicting portal areas/years were not averaged.
Live product test
The deployed site accepted a labelled QA brief, stored it in the private cloud database, displayed it in the operator dashboard and retained its closed status after reload. The live calculator reproduced the scenarios above. Research was manual; this did not test an automated feed or valuation engine.
Next action: verify documents and inspect VL55475. Current evidence supports a viewing candidate, not a confirmed undervalued purchase.