House 185 m² Nicosia, Cyprus

This beautiful listed house is located in the heart of the Old City in Nicosia. This house is definitely worth seeing as it is uniquely situated in one of the finest neighborhoods of the old city and offers convenient and sufficient areas for living. The property requires full restoration and benefit for: The submission of applications for the Sponsorship Plan for the conversion and creation of student dormitories and rooms in the framework of the Action Plan for the Revitalization within the walls of Nicosia.(Grand 75% by government plus 40% as a listed property) 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. 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. Financial Incentives which is the direct sponsorship given by the State to the new owner for the complete maintenance of the listed building. No incentives are provided for partial building maintenance.