A great investment opportunity now being listed with Foytina Real Estate Agency. A touristic piece of land enjoying sea view, with development rights ideal for residential or even touristic buildings and complexes has come to the Market for selling purposes.
The property, being located within the administrative area of Mouttagiaka municipality whilst being part of the wider cosmopolitan region of Limassol, is nearby the South part of the high-way road but has a setback of around 550 m from the seashore where organised beached are found, thus allowing the walking distance factor to be facilitated and give to the land an added value.
The land as a whole is sized about 8218 square meters and adjoins a public registered road on its west end, thus having its allocated planning rights being enabled. Enjoying a slight slop with the North end of it being higher from its South end by averagely 3 meters, allows for an architectural synthesis which shall provide to all units view and particularly sea view. An ideal property for taking full advantage of the new planning regulations and construct a 'sky-scrapper' in Limassol, the latest trend in residential developments in Cyprus and particularly the area of Limassol which enjoys fantastic sea-scape and town-scape views.
The allocated planning zone for residential purposes is currently 60% with views to raise to 80% or even higher in the immediate future. However, as things stand now, the land can be developed under the regime of a unified development and gain total building factor of 72% (if full incentives of the planning department are facilitated) instead of 60% which is the current one. A quick calculation shows that the property can yield after the public street network and the public park (green area) allocation, a net area of plot sized of around 5757 square meters and built area of around 4150 real primary indoor covered square meters (covered verandahs/balconies, store-rooms, secondary rooms etc are extra areas to the primary covered area).
Should you have more interest on this property, please contact us now. Land size= 8.218 sqm, Building Factor = 60/72%, Listing No = 1576
* VAT rate varies from 0% to 19% depending on the purpose of the deal and the Law provisions
Mouttagiakia ( Greek: Μουτταγιάκα [ locally [mutʰaˈʝakʰa]]; Turkish: ) is a village in the Limassol District of Cyprus, located east of Germasogeia. Prior to 1960, the village was almost exclusively inhabited by Turkish Cypriots.