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Pay in USD and save up to $59,981Location: Agiou Lazarou Street, Larnaca Historic Centre
Total Area: 836 m²
Zoning: Πα6 (100%)
Building Density: 180%
Coverage: 70%
Permitted Floors: Up to 3
Max Height: 10 m
Category: Land with Preserved (Listed) Building
Property Highlights:
Extremely Central — Just a 2-minute walk to the beach, in Larnaca’s historic heart near the Church of Saint Lazarus.
Preserved Building Onsite — Adds rich architectural character while offering strong redevelopment potential (e.g., boutique hotel, luxury apartments, mixed-use).
Lucrative Government Incentives — Benefit from a 40% state subsidy for eligible restoration costs (recognised maintenance costs)
Transferable Development Rights — Any unused development potential can be sold or transferred elsewhere, boosting ROI
Favourable Cost Framework — Restoration costs are calculated fairly, with caps (€1.400/τ.μ. up to 300 τ.μ. etc.)
Tax Relief Opportunities — Owners of restored heritage buildings may qualify for significant tax deductions and exemptions
Strong Financial Caps — Subsidy may reach up to €100,000, including up to €4,000 coverage for project studies and supervision
Investment Potential:
This property offers a rare combination: historic charm, superb location, excellent development rights, and direct government incentives. Ideal for visionary investors or developers ready to create a standout project in one of Cyprus’s most vibrant urban centers.
Contact us today to arrange a viewing or request detailed plans for redevelopment.
For registering a resale property in the buyer’s name, transfer fees are required. These fees are determined by the property’s market value as assessed by the Land Registry on the purchase date.
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