Catalog/Michelle Park

Under construction

Universal, Paphos

Michelle Park

7 homes·from €475,000 + VAT·under construction·completion Q2 2028

A building of seven homes in Universal, Paphos. Three-metre ceilings, underfloor heating and VRF air conditioning, storage and parking with every home. The frame is up — you can walk the site this week.

Ask about this development See available homes

Gallery

See the development

Site plan

Find your apartment on the plan

Choose a floor and click an apartment on the plan — or find it in the list below.

Click an apartment on the plan to see its floor plan, price and status.

Apartments 101 and 103 are sold. At the centre of this floor are the bedrooms of duplex 102 — its kitchen-living room is one floor up.

availablesold

From: €475,000
Available: 3 / 7
Type: Apartments
Bedrooms: 2
Completion: Q2 2028

Swimming pool
Smart home
VRF air conditioning and underfloor heating
3 m ceilings
Storage room with every apartment
Parking space

Underfloor heating and VRF air conditioning are included in the price — built for a Cyprus January, not just a Cyprus August.

Payment schedule

€10,000 on reservation → 50% on signing the contract (after it's lodged with the Land Registry) → 20% / 20% / 10% tied to build stages.

How off-plan payment works in Cyprus and what protects you before the title deed.

How your payment is protected

No building permit in Cyprus without clean land documents. No contract registered at the Land Registry without that permit. No stage payment before that registration — until it happens, you pay nothing. Each link is checked by the state, not by us, and the registered contract gives you a statutory claim on the property itself: under Cyprus law it can’t be sold twice or mortgaged over your head once it’s lodged.

Track record

This is our own development. Our first completed building, Universal Park 1, is finished and lived in — you're welcome to see it in person.

Location

Michelle Park on the map of Paphos. Sea, Alykes beach — 2.6 km, 7 min by car. Paphos centre — 3 km, 9 min by car — By car. Map: Mapbox, © OpenStreetMap.

Michelle Park — Universal, Paphos, interior view

The homes

Apartments in this development

Prices and availability as of 5 August 2026

3 of 7 available · prices exclude VAT

Unit	Floor	Beds	Size + veranda	Price	VAT	Status	Plan
Duplex 102	1–2	2	76 + 28.8 m²818 + 310 sq ft	€475,000	VAT 5% + 19%	Available
Penthouse 301	3	2	75.4 + 16.5 m²812 + 178 sq ft+ 17.5 m² terrace	€575,000	VAT 19%	Available
Penthouse 302	3	2	75.4 + 16.5 m²812 + 178 sq ft+ 17.5 m² terrace	€575,000	VAT 19%	Available
Apartment 101	1	2	75 + 17.8 m²807 + 191 sq ft	—	—	Sold	—
Apartment 103	1	2	75 + 17.8 m²807 + 191 sq ft	—	—	Sold	—
Apartment 201	2	2	75 + 18.4 m²807 + 198 sq ft	—	—	Sold	—
Apartment 202	2	2	75 + 18.4 m²807 + 198 sq ft	—	—	Sold	—

Apartment 101Sold—2 bed · 75 + 17.8 m² · 807 + 191 sq ft · floor 1

Apartment 103Sold—2 bed · 75 + 17.8 m² · 807 + 191 sq ft · floor 1

Apartment 201Sold—2 bed · 75 + 18.4 m² · 807 + 198 sq ft · floor 2

Apartment 202Sold—2 bed · 75 + 18.4 m² · 807 + 198 sq ft · floor 2

VAT

live calculation

5% instead of 19% — but only up to €475,000

Catalogue prices exclude VAT. How much you actually pay comes down to two numbers: the price and the covered area. Move the sliders — the calculation shows what is taxed at the reduced rate, what at the standard one, the total including VAT, and what the relief saves.

Every tax and fee on buying and owning — what buying a new build actually costs and the Cyprus tax 2026 article.

Start from a real home

Price excluding VATclose to the cap · relief cap — €475,000

Covered area, m²within the relief · relief cap — 190 m²

Who you pay, and when

VAT: To the developer, with each staged payment and in the same proportion. There is no separate lump sum at the end; the developer remits the tax to the Tax Department.
The reduced rate: On application by the buyer to the Cyprus Tax Department — it is not applied automatically. Filed before completion, together with the property documents.
Transfer fees: Not payable on a new build sold with VAT — that duty belongs to title transfers on the resale market.
Stamp duty and your lawyer: Separate from VAT and not included here. We send the full cost table before any reservation.

A reference calculation covering VAT only. Eligibility is confirmed by the Cyprus Tax Department.

VAT on this home

Reduced rate on part of the price

5% + 19%

Reduced VAT is a Cyprus relief for a main residence: 5% instead of 19% on the first 130 m² and the first €350,000. A home over 190 m² or €475,000 loses it entirely — the whole price is then taxed at 19%.

5% on the first 130 m² and the first €350,000, 19% on the rest

VAT on this home	Taxable	VAT
At 5%capped at €350,000	€350,000	€17,500
At 19%above the reduced limits	€125,000	€23,750
Total	€475,000	€41,250

Price including VAT€516,250

Saves €49,000 against 19% on the whole price · effective rate 8.7%Without the relief it would be €565,250

Calculated from the catalogue price and covered area. The relief is granted once per buyer, for a new home they live in themselves for at least 10 years. Eligibility is confirmed by the Cyprus Tax Department, not by this site — we check how it applies to you before any reservation.

Questions

Frequently asked questions

What protects my money before the building exists?

The order things happen in, not our word. In Cyprus there is no building permit without clean land documents; no contract registered at the Land Registry without that permit; and no staged payment before that registration — until it happens, you pay nothing. Each link is checked by the state, not by the seller. The registered contract gives you a statutory claim on the specific home, and the title deed for it is issued once the building is completed and signed off — the end of the same chain.

How do I check the developer, or whether the land is mortgaged?

You — or your lawyer — can search the Land Registry directly. We'd encourage it before you sign anything, on any property, not just ours.

What happens if the developer runs into financial trouble before completion?

Your contract is lodged with the Land Registry, and you pay in stages tied to what's actually been built — so at any point you've paid for roughly what exists.

What will I actually pay on top of the price?

VAT (standard rate 19%; a reduced rate applies only in specific cases and never to every unit — ask us which applies to the home you're looking at), your own lawyer's fee, and — where they apply — communal fees; stamp duty was abolished on 1 January 2026. We'll give you the full figure in writing before you commit to anything.

Is construction going ahead regardless of how many units have sold?

Yes — construction reached frame at third floor while sales continued. Ask us for dated progress photos.

Can I use my own lawyer?

Yes — we'd rather you did. Tell them you're interested and we'll send them the contract, the floor plans and the payment schedule before you reserve anything.

Are Cyprus homes really cold in winter?

Older Cyprus houses often are — concrete, tile floors, little insulation. This one has underfloor heating and VRF air conditioning included in the price, precisely because that's a known problem with the older housing stock here.

Enquiry