Cyprus
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Apartment complex for sale in Limassol, Limassol District
2,300,000€
An exceptional investment opportunity has arisen in the Historical Center of Limassol. This two-storey mixed-use building presents considerable potential for both developers and investors. Property Specifications: Land Area: 596 m² Building Size: 731 m² Additional Building Factor: 223 m² Building Density: 140% Key Features of This Property: Prime Location: Situated in the heart of the historic district. Ready for Renovation: All necessary permits are in place, allowing the new owner the flexibility to modify them or change the intended use. The property is suitable for various purposes, including retail shops, residential apartments, boutique hotels, office spaces, university accommodations, and versatile open-plan areas. Financial Advantages: o Eligibility for up to 40% reimbursement on renovation costs. o The excess building factor (223 m²) can be sold or transferred. o Tax exemption on rental income for the owner. o Exemption from property tax. o Refund of transfer fees and other various government incentives. Investment Outlook: With renovation approvals secured and additional building rights available, the value of this property is poised for significant appreciation.
Additional Property Information:
• External size: 596 m²
• Size: 731 m²
• Reference: EDI_10653
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