Property 58968 Limassol, Limassol / LIM-PAF-33447

Located in the highly sought-after Agios Georgios parish within Limassol Municipality, this property presents a rare opportunity for investors and developers alike. Ideally positioned in a vibrant and well-established area, it combines accessibility, visibility, and strong development potential.

The asset concerns ½ share of a parcel corresponding to approximately 242 sq.m. of land, featuring an existing building constructed around 1966.

? Location Highlights
Approximately 290m southeast of Agios Neophytos Church
Approximately 450m northwest of Tsirio Elementary School
Direct frontage on Despinas and Nikou Avenue (approx. 25m)
Excellent connectivity to:
Limassol city center
The motorway
Surrounded by key amenities including:
Schools
Supermarkets
Banks
Retail shops

This is a high-demand residential and commercial area due to its central location and accessibility.
Property Details
Land share: ~242 sq.m. (½ share)
Internal covered area: ~108 sq.m.
Covered verandas: ~4 sq.m.
Year built: circa 1966
Energy Efficiency Rating: E
Planning & Zoning
Zone: Εβ4 (Commercial)
Building Density: 140%
Coverage Ratio: 50%
Max Floors: 4
Max Height: 14.30 meters

Offers strong redevelopment potential for mixed-use or commercial projects.

Investment Potential

Whether you're looking to renovate, redevelop, or hold as a long-term investment, this property stands out due to:

Prime urban location
High building coefficient
Strong rental and resale demand in the area

What does “½ share” mean?
It means the property is co-owned, and this listing concerns the ownership of 50% of the parcel.

2. Can the property be redeveloped?
Yes, the Εβ4 commercial zoning allows for significant development potential, subject to permits and planning approvals.

3. Is the building currently habitable?
The building is older (1966) and may require renovation or redevelopment depending on intended use.

4. What types of developments are allowed?
The commercial zoning typically allows shops, offices, and mixed-use residential/commercial developments.

5. How accessible is the location?
Very accessible — close to main roads, the motorway, and central Limassol, making it ideal for both residential and business use.

6. Are there nearby amenities?
Yes, the property is within close proximity to schools, shops, banks, and all essential services.