The Nicosia real estatemarket reflects Cyprus' financial stability and economic growth.
Due to low tax rates, government stimulus programs, and the possibility of obtaining a Cyprus Permanent Residence on an accelerated program, investors are increasingly interested in the capital's properties. Their profitability is one of the highest among European capitals, and the cost is formed on the basis of real market factors without allowing artificially inflated figures.
Unlike seaside cities, the demand for the capital's square meters has demonstrated stability during the pandemic and is not subject to seasonal fluctuations. The price policy for the sale or lease of residential premises and offices differs significantly between Limassol and Larnaca. The friendly attitude of the locals and the numerous statuses of Nicosia serve as strong incentives to purchase real estate in this historic city.
Nicosia is the country's political center, where most government and state institutions are located.
Embassies and diplomatic missions of foreign countries, as well as offices of international organizations, are located in the city. In order to comfortably accommodate them, the state, if necessary, practices renting premises from private owners.
Nicosia is the business capital of Cyprus.
Besides numerous subdivisions of Cypriot companies and commercial funds, the head offices of the largest foreign representative offices are opened here, first of all from the legal, banking, and consulting spheres. Not the least role in such concentration of business structures plays a large, by local standards, the population of the city, which facilitates the selection of personnel of various qualifications.
Given the attractiveness of the capital's real estate prices, the relocation of foreign entities to the island (primarily in the high-tech sector) has not left Nicosia untouched. This trend consistently increases the demand for office space, while high-rise business and residential buildings shape the architectural image of the capital.
Commercial real estate located near office centers attracts investors with the possibility of creating service infrastructure. Sports clubs, shopping centers, restaurants, and cafes allow employees to relax in comfortable conditions after a working day. Such objects have a high degree of liquidity.
Renovation of urban neighborhoods also fuels the interest of entrepreneurs to invest in entertainment facilities, restaurants, and exhibition real estate.
Nicosia is the center of Cypriot trade.
Retailers from all over the world primarily open their stores here, which confirms the high profitability of investments in retail space.
Nicosia is the student center of Cyprus, where the leading universities with a high level of education are located.
The development of the entertainment industry, to meet the needs of the student audience, will provide the investor with a significant percentage of profit.
Nicosia is the cultural capital of Cyprus.
The city has a large number of architectural and historical sights that attract tourists at any time of the year. The opening of service establishments in places of their mass congestion will provide a stable income.
The capital's residential real estate market is mainly formed by the local population.
It is noted that the number of transactions for the purchase of apartments during the pandemic, unlike Limassol and Larnaca, remained at the same level.
According to expert opinion the best option for foreigners willing to invest in real estate in Cyprus will be the purchase of apartments for living in cities on the coast, and for a stable rental income - in Nicosia. In this case, the capital's developers offer a variety of housing in a wide price range.
Taking into account the growing number of citizens from other countries, the purchase of residential real estate for subsequent rental is a profitable and promising investment.
Another large category of apartment renters in the capital includes students studying in the capital's universities and top-level schools.
In terms of the number of requests for purchase, land plots in Nicosia and its suburbs share the first place with the city office real estate. They are highly sought after by local, private, and corporate entrepreneurs as well as foreigners.
Investing in sites for high-rise development in the urban area guarantees a high return to the investor.
Funding for cottage developments, which became particularly popular during the pandemic, continues to grow at present. The construction of social infrastructure also has a high degree of liquidity.
Nicosia is the scientific and manufacturing center of Cyprus, so investment in land for industrial use can be profitable.
Nicosia offers a safe, business-oriented environment and developed urban infrastructure.
Government programs for health care, urban transport, and green energy contribute to an already high quality of life.
The capital is home to many commercial prospects, global brands, and a colorful mix of Greek and Turkish cultures.
These factors place Nicosia among the leading European capitals and contribute to the constant influx of expats. International expert opinion confirms the high investment rating of Cyprus, which means that the economic future of the capital inspires optimism.
For more information about all projects in Nicosia, please get in touch with the professionals of DOM, the #1 real estate agency in Cyprus, by phone +357 22 030670, or by visiting us in person at Archiepiskopou Makariou III 1, Lakatamia 2324, Nicosia, Cyprus.
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