4 Frequently Asked Questions about The Courtyard

The Courtyard residential complex is undeniably the most beautiful to be developed in Nicosia. Its gated entrance and the planted 6000-square-metre garden area will facilitate activities that meet the demands of today’s lifestyle and the needs of every modern family. 

These new apartments in Nicosia are situated in an extremely advantageous location, as it provides quick access to both the town center and the highway, while also being at the highest point in a very quiet area.
Schools, pharmacies, kiosks, restaurants, coffee shops, and a private health center are all within walking distance of the project. 

Part of what we do is to help potential buyers throughout their decision making process. For this reason we have gathered four of the most frequently asked questions from interested buyers to not only guide you but also learn more facts about The Courtyard.

1. What is the price for each flat and what is included?
The Courtyard consists of 2-bedroom apartments with prices starting at €228,000, 3-bedroom apartments at €371,000, 4-bedroom apartments with starting price at €476,000 and for the whole floor apartments which comprise of 5 bedrooms the price starts at €704,000.

The prices of the new apartments in Nicosia include and not limited to the following: 

  • Basement parking areas for all apartments (one for the 2-bedroom apartments and two for the rest apartments). You also have the opportunity to buy extra parking spaces if you wish. 
  • Underfloor heating with an electric heat pump
  • Air conditioning units installed on each room
  • Aluminium Venetian shades for all windows
  • Electric blinds for all bedroom balcony doors
  • Solar water heater and a water pressure system
  • Town water supply in the kitchen
  • Photovoltaic systems covering common area electrical costs

2. When will the construction of the project begin, and when will it be completed?

We expect all permits to be issued within the next month, and once everything is set, we will begin the work immediately.
The construction is expected to take two years, and we are confident that the full project will be delivered 24 months after construction begins.

3. How is the payment plan divided?

Once you have decided on the apartment you are buying and have reserved it, a 10% of the purchase price will be paid.

The rest of the payment plan is as follows:
a) 30% upon the signing of the Sales Agreement, which will be registered with the Lands Registry, as well as the equivalent percentage of the land mortgaged in the buyer’s or his/her bank’s favour.
b) 20% upon the completion of the excavation, foundations pillars and slabs of the project
c) 15% upon the completion of the wall construction
d) 15% upon the completion of the flooring works, kitchen and bathroom coverings
e) 10% upon the installation of cupboards, bathroom fittings, doors and windows
f) 10% upon completion of ALL work and the flat is delivered to the buyer. 

4. Who are the shareholders of the GPR Green Parket Residences Ltd, the company that will develop the project, and who will be the contractor?
There are nine shareholders within GPR Green Par Residences Ltd, of which one is Polish, two are Lebanese and six are Cypriots. These are professionals with extensive experience in the real estate industry, both in Cyprus and worldwide (both in construction as well as sales).
The contracting company will be chosen from a group of Class-A contractors, through a careful procedure that will take place within the next month, taking into consideration both economic and quality criteria prior to the decision.

If you still have more questions or need more information regarding one of the questions above or any of the new apartments in Nicosia, feel free to contact our professional sales team on 70002022, via email on info@greenparkresidences.com.cy, or visit our website.