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Pay in USD and save up to $62,002Presenting an exceptional investment opportunity in the highly sought-after Katholiki area of Limassol. Ideally located just 10 minutes from the highway and within walking distance of the beach, the property occupies a prominent position on one of the city's busiest streets, offering excellent accessibility and long-term investment potential.
The property comprises the ground floor and the entire first floor of a traditional listed building, with a total covered area of 332 sq.m. (58 sq.m. on the ground floor and 274 sq.m. on the first floor). Its layout and generous internal space make it particularly suitable for conversion into serviced accommodation, studio units, co-living spaces, or short-term rental apartments (Airbnb), subject to the necessary approvals.
The property's central location makes it an attractive choice for:
Professionals working in Limassol's city centre and surrounding business districts.
University students seeking accommodation close to educational institutions and public transport.
Short-term visitors and business travellers looking for boutique-style accommodation within walking distance of the city's amenities and seafront.
The building enjoys protected listed status, offering significant tax incentives while preserving its unique architectural character. In addition, it benefits from a building coefficient of 1.60, providing further long-term development potential.
Originally constructed in 1918 using traditional stone masonry, the building is exceptionally robust, with no evidence of structural movement, cracking or subsidence. Its durability has been demonstrated through more than a century of use and its resilience to numerous earthquakes experienced in Cyprus.
Situated in a vibrant and well-established neighbourhood surrounded by banks, restaurants, cafés, retail shops, public services and schools, this property represents a rare opportunity for investors seeking to create a high-quality accommodation project in the heart of Limassol.
Specifications
Covered Area: 332 m²
Plot Area: 146 m²
Protected Listed Building
Development Coefficient: 1.60
Price: €1,550,000
Contact us for further information or to arrange a viewing.
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.
Disclaimer - Property reference 8525071. The information displayed about this property comprises a property advertisement. BuySellCyprus.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and BuySellCyprus.com has no control over the content. This property advertisement does not constitute property particulars.
