Cypress Park
Yeroskipou, Paphos
from€220,000+ VAT
- bedrooms
- studios, 1–3
- size
- 40–122 m²
- completion
- Q2 2027
In frameMichelle Parkvisualisation, evening
Universal, Paphosunder construction
Michelle Park
from€475,000+ VAT / 3 of 7 available
A building of seven homes in Universal, Paphos.
- TypeApartments
- Bedrooms2
- CompletionQ2 2028
Site planMichelle Park
Apartments in this development
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
Homesprices exclude VAT
Apartments for sale
Prices and availability as of 15 September 2026
3 available · prices excl. VAT3 available · prices excl. VAT
Also 4 sold — they are in the list with their status.
Gallerydeveloper renders
Developer renders and floor plans
About the developmentMichelle Park
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.
What's included in the price
The development and the apartment
- Swimming pool
- Smart home
- VRF air conditioning and underfloor heating
- 3 m ceilings
- Storage room with every apartment
- Parking space
Winter in Cyprus
Built for a Cyprus January, not just a Cyprus August
- Heating and cooling are included in the price — not an option and not a separate “turnkey” extra
This is the main difference between a new build and a resale home in Cyprus: an older house is heated in winter with air conditioning and a heater, and the January bill comes as a surprise.
Payments
Payment schedule for this development
| Reservation | €10,000 |
| Contract signing | 30% |
| Phase 1 — foundation and frame | 30% |
| Phase 2 — blockwork and plastering | 20% |
| Phase 3 — tiling | 10% |
| Phase 4 — windows and glazing | 5% |
| Handover of keys | 5% |
This is how it works if you come into the development at the start
The schedule holds while the first phase — foundation and frame — is unfinished. After that, the completed stages fold into the first payment and it grows. What it comes to on a particular apartment, we tell you before any reservation.
VAT is added to every payment. We send the full turnkey cost table before any reservation. More on how off-plan payment works in Cyprus and what protects you before the title deed.
How your payment is protected
Contract → Land Registry → then money
- 01
The building permit has already been issued
In Cyprus it isn't issued until the developer holds a complete set of land documents. So the land was checked before the first truck drove onto the site — and it wasn't the seller who checked it.
- 02
Your lawyer gets everything before you sign
Any lawyer — we welcome your own: we send them the contract, the land documents and the building permit.
- 03
The contract is registered at the Land Registry
The Land Registry won't accept a contract without the permit — nor one on encumbered land. And until registration you pay nothing: the staged payments start after it.
- 04
The apartment is secured in your name
A registered contract secures the specific property: it can no longer be sold a second time or mortgaged behind your back. Once the building is completed and signed off, a separate title deed is issued for it — the end of the same chain, not a separate promise.
- 05
This is our own development
You sign the contract directly with the developer — there is no intermediary between you and the build.
- 06
We have already seen this chain through to the end
Universal Park 1 in the Universal area: built, completed, lived in. Come and see what it looks like several years after handover. See the development →
LocationMichelle Park
Universal, Paphos
The map can be dragged, zoomed and opened full screen.
- Sea, Alykes beach
- 7 min2.6 km
- Paphos centre
- 9 min3 km
Michelle Parkdeveloper render
VAT
live calculation5% 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
close to the cap / relief cap — €475,000
within 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
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 on a new home the buyer lives in themselves for at least 10 years, if they own no other home in Cyprus bought at the reduced rate. Eligibility is confirmed by the Cyprus Tax Department, not by this site — we check how it applies to you before any reservation.
QuestionsMichelle Park
Michelle Park — frequently asked questions
Price and availability, completion, what protects your money, what you pay on top of the price, communal fees.
How much is an apartment at Michelle Park, and how many are available?
3 of 7 available, priced €475,000–€575,000 excluding VAT. Prices and availability as of 15 September 2026. Sold and reserved units are not counted in the 'from' price; each apartment's status is in the table above and updates hourly from the developer's database.
When does Michelle Park complete?
The date from the developer's database is Q2 2028. Staged payments follow construction, and the contract is lodged with the Land Registry before the first staged payment.
Where is Michelle Park, and how far is the sea?
Universal, Paphos: 2.6 km to the sea (Alykes beach), 7 min by car; 3 km to the centre of Paphos, 9 min. Distances are driving routes measured when the development's map was built, not straight-line; the map and points are in the Location section on this page.
Can I buy at Michelle Park with 5% VAT?
Of the 3 available, 1 passes the area and price thresholds for the reduced rate — partly (5% on the first 130 m² and €350,000, 19% on the rest; no relief above 190 m² or €475,000). The rate applies if the home becomes the buyer's main residence; the calculation for each apartment is in the VAT section on this page.
Does buying at Michelle Park give residency?
Not by itself. Some homes in the catalogue qualify for a permanent-residency application — if that matters to you, say so and we'll show you the conditions and put you in touch with a lawyer who does this for a living.
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.
EnquiryMichelle Park
Ask about Michelle Park
Message us on WhatsApp or Telegram — the owner answers, not a sales team. We'll send floor plans, the available apartments and the full cost with payments by stage.
Mon–Sat / 09:00–19:00 (EEST, UTC+3)
Message us on WhatsAppMessage us on Telegram
WhatsApp +357 97 978087Telegram @CEDEV_property
info@cedevproperty.comSimilar developmentsapartments
