TOPCY 77-78-79 – Latsia, Nicosia

TOPCY 77-78-79 is a residential complex in Latsia, Nicosia, developed by Topcy Construction & Development, comprising three complementary products in the same area: terraced townhouses (TOPCY 77), detached villas (TOPCY 78), and an apartment building with a lift (TOPCY 79).

This development caters to various buyer segments, from 1-bedroom apartments serving as an entry point for the Cyprus Permanent Residency programme, to 4-bedroom villas with pools for families seeking long-term settlement.

TOPCY 77-78-79 Features

• TOPCY 77 – 5 terraced townhouses: Units 77A and 77E have 4 bedrooms; units 77B, 77C, and 77D have 3 bedrooms. Land area 204-217 m², total built area 178-187 m², 2 floors. Each unit has a 4-10 m² covered veranda and an 18-22 m² covered parking space.
• TOPCY 78 – 3 detached villas: All 3 units have 4 bedrooms. Unit 78A is a premium villa with 4 bathrooms, a large 401 m² plot, a private pool, a 36 m² covered veranda, and a 41 m² parking space for 2 cars. Unit 78B (230 m² plot) and 78C (308 m² plot) have 3 bathrooms; while smaller than 78A, they remain detached villas.
• TOPCY 79 – 12-unit apartment building: 2-storey building (plus ground floor for parking + lobby + storage), with a lift. 12 apartments arranged as 6 units per floor, featuring a mix of 1-bedroom (51-56 m² interior), 2-bedroom (80 m² interior), and 3-bedroom (97 m² interior) layouts. Each unit includes 1 covered parking space and 1 private storage room on the ground floor.

Latsia – the investment case

Latsia is one of Nicosia's most stable and sought-after residential areas. The district is known for its friendly community, high-quality public and private schools, and complete urban infrastructure.

Nearby amenities within a short radius: supermarket 4 minutes by car, pharmacy – bank – local shops 2 minutes, public middle and high schools 6 minutes, The Falcon School 10 minutes, Nicosia General Hospital 10 minutes, parks and entertainment areas 2 minutes. The location is close to major transport arteries connecting Nicosia with other cities in Cyprus.

Topcy Construction & Development – the developer

Topcy Construction & Development Ltd was established in 2016 in Nicosia and has developed over 40 real estate projects with more than 200 units across three major cities in Cyprus. Latsia is one of the areas where Topcy has the most projects and development experience, with a series of previously sold-out projects in this location.

Cyprus Permanent Residence Programme

The 2-bedroom and 3-bedroom apartments at TOPCY 79, along with all TOPCY 77 townhouses and TOPCY 78 villas, meet the minimum investment threshold of €300,000 for the Cyprus Permanent Residency programme under Regulation 6(2). Note: the 1-bedroom TOPCY 79 apartment with a starting price of €180,000 does not meet the PR threshold when purchased individually; buyers may purchase up to 2 property units to combine and reach the €300,000 threshold.

The buyer, along with their spouse and children under 18 (or students under 25), can obtain permanent residency within 2-3 months via a fast-track process. Permanent residency is valid indefinitely, requires no renewal, and only requires entry into Cyprus at least once every 2 years.

Tax Advantages and Yield

A reduced VAT rate of 5% (instead of the default 19%) applies to the first 200 m² when purchased as a primary residence. In cases where the property is purchased for rental, the 19% VAT may be refunded according to regulations.

Note: Cyprus is expected to join the Schengen Area in 2026 – an event that will significantly increase property values and freedom of movement for holders of Cyprus permanent residency. The Latsia area has a stable rental market due to its proximity to private schools and hospitals – suitable for long-term rental exploitation for expat families working in Nicosia.