Philenews

Cabinet Increases Recognized Restoration Costs for Listed Buildings

Published March 5, 2026, 14:10
Cabinet Increases Recognized Restoration Costs for Listed Buildings

The Council of Ministers has approved an increase in the maximum recognized cost of restoring listed buildings, as part of a broader plan by the Ministry of Interior to modernize and simplify the management of these buildings. The decision takes into account the significant increase in the cost of materials and labor, which has reached around 25%-30%, making restoration less attractive to owners. The new cost limits are as follows: for buildings up to 300 sq.m., the cost increases from €1,400/sq.m to €1,700/sq.m, for buildings from 301 sq.m to 1,000 sq.m from €1,300/sq.m to €1,600/sq.m, and for buildings over 1,001 sq.m from €1,000/sq.m to €1,300/sq.m. The aim is to reduce the discrepancy between actual and recognized costs. At the same time, the Ministry of Interior is promoting a series of reforms to improve the management processes of listed buildings, such as a fast-track licensing process, exemption from building permits for low-risk work, the creation of a unified register of conservation coefficients, the operation of a single licensing point, the establishment of Provincial Offices of the Conservation Branch, the digitization of cultural heritage and the publication of a manual for owners and restoration surveyors. These changes aim to create a more flexible and modern framework that will facilitate the restoration of listed buildings and strengthen the protection of historic city and community centers, contributing to the preservation of Cyprus's architectural heritage and encouraging the reuse of historic buildings.