A rare and highly attractive opportunity to acquire a premium corner plot in the heart of Paphos, one of the most dynamic and rapidly evolving urban centres. Perfectly positioned for maximum exposure and accessibility, this asset offers outstanding development potential with significant upside.
Situated in a prime area of central Paphos, the plot enjoys immediate access to key infrastructure, commercial hubs, and lifestyle amenities. Just minutes from the seafront and within easy reach of Paphos Harbour, the Mall, and the International Airport, this location ensures strong demand for both residential and commercial developments.
Surrounded by ongoing and completed projects, the area continues to experience robust growth, with modern developments reaching up to 6 floors, reinforcing investor confidence and long-term value.
šļø Outstanding Development Potential with Planning Upside
Set on a generous 964 mĀ² corner plot, the property benefits from a 140% building density and falls within a Special Development Zone, offering exceptional flexibility and enhanced build potential.
Developers have the opportunity to unlock additional density and an extra floor through planning incentives, including:
Provision of underground public parking
Construction of a Civil Defence shelter
This creates a powerful value-add opportunity, allowing for a significant increase in buildable area and overall project returns.
š Key Development Metrics
Plot Size: 964 mĀ²
Base Building Density: 140%
Base Buildable Area: 1,349 mĀ²
š Upside Development Scenario
Estimated Adjusted Density: 160% ā 180%
Potential Buildable Area: 1,542 mĀ² ā 1,735 mĀ²
Additional Floor Potential: Up to 5ā6 floors total
This enhanced capacity allows for improved unit mix, higher saleable area, and maximized profitability.
š° Revenue Potential
šļø Conservative Scenario
Buildable Area: 1,350 mĀ²
Sale Price: ā¬5,000/mĀ²
Estimated Revenue: ā¬6,750,000
šļø Realistic Market Scenario
Buildable Area: 1,550 mĀ²
Sale Price: ā¬5,500/mĀ²
Estimated Revenue: ā¬8,525,000
šļø Optimized Development Scenario
Buildable Area: 1,700 mĀ²
Sale Price: ā¬6,000/mĀ²
Estimated Revenue: ā¬10,200,000
š§± Estimated Development Costs
Average Construction Cost: ā¬1,600/mĀ²
Example (Balanced Scenario):
1,550 mĀ² Ć ā¬1,600 = ā¬2,480,000
Including additional costs (permits, professional fees, financing, marketing):
Estimated Total Cost: ~ ā¬3,000,000
š Profit Potential
Balanced Scenario:
Revenue: ā¬8.5M
Estimated Cost: ā¬3.0M
š Projected Profit: ~ ā¬5.5M
Optimized Scenario:
Revenue: ā¬10.2M
Estimated Cost: ~ ā¬3.3M
š Projected Profit: ā¬6.5M ā ā¬7M
āØ Investment Highlights
ā Prime Corner Plot in Central Paphos
ā Special Development Zone with Density Upside
ā Potential for 5ā6 Floor Development
ā Strong Demand for Residential & Office Space
ā Achieved Sale Prices from ā¬5,000/mĀ² and Above
ā Ideal for Mixed-Use, Residential, or Commercial Projects
ā High Capital Appreciation & Rental Yield Potential
š Location Advantages
ā Central Paphos Location
ā 5 Minutes to Seafront
ā 15 Minutes to Paphos International Airport
ā Excellent Connectivity to All Amenities
š„ A Standout Investment Opportunity
This is a classic high-performance development opportunity combining prime location, density uplift potential, and proven market demand. With flexible planning advantages and strong sales values in the area, it presents an ideal project for developers seeking maximum return on investment.
