Property 3101 Limassol / LIM-PAF-32266

This excellent plot, located in the sought-after Petrou & Pavlou area, offers a prime opportunity for real estate development. With a plot size of 300m² and a total covered area of 430m², this property comes with approved architectural plans for a mixed-use residential project.

Key Features:

• Plot Size: 300m²
• Density: 120% (360m²)
• Density with Incentives: 374m²
• Covered Verandas: 56m²
• Total Covered Area: 430m²
• Energy Efficiency Cert.: 5%
• Zoning: Ka4 (Residential)
• Coverage: 50%
• Building Allowance: 3 Floors, 13.5m Height

The architectural plans for the site allow for the construction of a contemporary building consisting of:

• 3 x 2-Bedroom Apartments (One apartment per floor)
• 1 x 2-Bedroom Penthouse
• This is a fantastic opportunity for developers or investors looking to create high-quality residential units in a central and highly desirable location.

Location:

• Situated just a short distance from a wealth of local amenities, including banks, shops, bakeries, pharmacies, and supermarkets, this plot is ideal for those looking for convenience and accessibility.
• Plus, with easy access to the center of Limassol and the iconic Limassol Marina, this property offers excellent potential for rental income or long-term capital growth.
• 1.
• What is the zoning of the plot?
• The plot is zoned as Ka4 (Residential), which allows for the construction of residential buildings, including apartments and penthouses.
• 2.
• What are the building allowances?
• The plot has a building density of 120%, meaning up to 360m² of construction can be built without incentives.
• With incentives, the allowable construction increases to 374m².
• Additionally, the plot has a coverage allowance of 50%, allowing for a substantial footprint for the building.
• The site also permits 3 floors and a maximum height of 13.5 meters.
• 3.
• Is the plot serviced?
• Yes, the plot is serviced with all necessary utilities including water, electricity, and access roads.
• 4.
• Are there any additional costs or taxes to consider?
• As with any real estate transaction, buyers should be aware of transfer fees, stamp duty, and other related taxes.
• A consultation with a local real estate lawyer or agent is recommended to clarify all fees.
• 5.
• What are the nearby amenities?
• The plot is within close proximity to shops, restaurants, banks, supermarkets, and pharmacies.
• It is also only a short drive from Limassol Marina and the city center.
• 6.
• How long does the development process take?
• Depending on the scope and speed of construction, the project can typically take 12-18 months to complete, from permits to final build.
• 7.
• Can I modify the architectural plans?
• Modifications to the approved plans may be possible but would need to be approved by local authorities.
• If you're interested in this exciting opportunity to develop a high-demand residential project in one of Limassol’s most convenient and desirable areas, contact us today to learn more or arrange a viewing.