📍 Location: Archiepiskopou Filotheou, Chrysaliniotissa
💰 Sale Price: €495,000
📜 Planning & Building Permissions Obtained
Funding Available for restoration in excess of 60% until the end of 2026
An exceptional investment opportunity in Chrysaliniotissa in the historic Walled City of Nicosia! This preserved traditional Cypriot house offers a rare chance to own a piece of Nicosia's architectural heritage, with planning and buildingh permissions approved for renovation and expansion. The property is ready to be renovated immediately!
🏡 Property Details
📐 Land Area: 490 m²
🗺️ Zoning: KA-A
📏 Building Density: 140% (686 m² allowed)
📏 Coverage Ratio: 70% (343 m² allowed)
🏢 Floors Allowed: 2
📏 Max Height: 8 meters
📑 Two Development Scenarios for Buyers
Scenario 1: Renovation of the Existing Listed Property
🏠 Existing Preserved Building: 99.5 m²
✔ 20% of the Building Density Used
✔ Ideal for those looking to restore and preserve a unique piece of traditional architecture
✔ Building Coefficient for Sale
Scenario 2: Expansion with Additional Modern Structures
🏠 Existing Building: 99.5 m²
🏗 Proposed Ground Floor Addition: 125 m²
🏗 Proposed First Floor Addition: 82.45 m²
📦 Auxiliary Spaces: 22.5 m²
📏 Total Area After Expansion: 329.45 m²
✔ 67.25% of the allowed 140% Building Factor used
✔ Potential for additional development, leaving 72% of the Building Coefficient for further Sale or Expansion
🔹 Investment Potential
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Excellent opportunity for residential or mixed-use development
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Prime location in Chrysaliniotissa residential area of the Old City with near proximity to the walls
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Funding available from the government up to 70% of the total renovation cost
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Proximity to historical landmarks, cafes, and shopping districts
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