Listed Property for Sale in the Walled City, Nicosia

Description

📍 Location: Archiepiskopou Filotheou, Chrysaliniotissa

📜 Building Permit Ready

An exceptional investment opportunity 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 building permission approved for renovation and expansion.

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

Excellent opportunity for residential or mixed-use development
Prime location in Nicosia’s cultural hub
Ideal for boutique hotels, luxury residences, or private offices
Proximity to historical landmarks, cafes, and shopping districts