This pretty listed house with an internal area of approx 130sqm is set within this spacious 171sqm plot and is located in the heart of the Old City in Nicosia, close to Famagusta Gate and Ermou Street. The property requires full restoration and has loads of potential to be extended.

Listed Properties also benefit in three different ways:
Financial Incentives which is the direct sponsorship given by the State to the owner for the complete maintenance of the listed building. No incentives are provided for partial building maintenance.
Transfer of Building Factor which is on the one hand the utilization of development rights that are not used in the protected plot by selling a remaining building factor and on the other hand securing additional sponsorship in the maintenance cost by selling a given building factor. This incentive operates in the free market without state mediation.
Tax Incentives which are the tax exemptions and tax-free rental income that can be taken by the owner of a listed building that has maintained it according to the Conservation Principles.

The property has architects plans to restore and extend the property to create a house of approx 230sqm internally.