Description

Prime location in the heart of Paphos and offer quick access to all areas of the city. They are very conveniently located, only 2km from the Limassol highway and 3km from Paphos harbor. There is a wide range of amenities and services nearby and they benefit from the main road frontage.

The area of the three plots of land are 658 m², 894 m² and 896 m² with the latter one including a heritage building in the iconic neoclassic style of Paphos. There are several benefits of the listed building noted.

Financial Benefits Listed Buildings

- Listed Buildings carry a high building coefficient, which can be transferred or sold once the preservation of the building has been completed      according to the      Town Planning.

-The government grants a considerable amount of funds (40%) for the preservation cost of Listed Buildings.

-All rental income is tax free for life.

-No property tax is imposed for listed buildings.

-No transfer fees.

-Amnesty of the square meters.

The planning zones are as follows:

Plot of 658 m² - ΚΓ2 70% (Residential and Offices), building density coefficient of 160%, coverage coefficient of 50% and Εα4 30% (Commercial Zone), building density coefficient of 160%, coverage coefficient of 50%, 4 floors and 17m height

Plot of 894 m² - ΚΓ2 77% (Residential and Offices), building density coefficient of 160%, coverage coefficient of 50% and Εα4 23% (Commercial Zone), building density coefficient of 160%, coverage coefficient of 50%, 4 floors and 17m height

Plot of 896 m² (including the heritage building) - Εα4 (Commercial Zone), building density coefficient of 160%, coverage coefficient of 50%, 4 floors and 17m height

The remainder of the building coefficient of the latter plot, that can’t be utilized because of the heritage building, can be transferred to the adjacent plots of land and therefore increase their building density. Alternatively, the building coefficient can also be sold to specific areas.