Choosing a neighborhood in which to buy a property depends on many factors. The most important one is the purpose of the purchase. If you are looking for an apartment or house for permanent residence, the criteria will be different, than if you are looking for investment and rental property.
We will look at 10 of the most suitable neighborhoods for both living and investing.
Center and Old Town
The central part can be roughly divided into the Old Town (the one inside the Venetian walls) and the area that closely adjoins it. The real estate in the Old Town itself is very varied and predominantly belongs to secondary and even ancient constructions. Both locals and foreigners rarely buy housing here: the area, although colorful, is not a comfortable place to live and is considered more cultural and tourist.
The surrounding area - is quite well settled and modern. There is all the necessary infrastructure, offices of many companies and government agencies, places for various types of recreation and entertainment.
Real estate here is mainly represented by either secondary housing or elite multi-storey new buildings. The latter are worth a closer look: they are both excellent places for investment and an excellent location for permanent residence.
Let us list the most notable projects:
- Central Park Residence - comfortable apartments with panoramic windows and spacious terraces overlooking the city;
- Landmark Nicosia - a complex with its own green park and all the facilities of a five-star hotel, perfect for those who want to rent apartments to vacationers;
- Downtown Stasikratous Residences - another luxury high-rise with a great location and views from large covered terraces;
- 360 Nicosia - the tallest building to date (34 floors) with a stunning 360 degree view and spacious luxury apartments.
The center of Nicosia will suit those people who appreciate an active and busy life, as well as proximity to all cultural institutions. In addition, it is quite easy and profitable to rent apartments here both permanently and short-term.
Properties available for sale in Central Park Residence project
Properties available for sale in Landmark Nicosia project
Properties available for sale in the Downtown Stasikratous Residences project
Properties available for sale and for rent in 360 Nicosia project
Ayioi Omoloyites
A small neighborhood that adjoins the central part of Nicosia. It has all the advantages of a vibrant urban life for the whole family:
- nearby kindergartens and schools, including private schools;
- access to the offices of almost all public institutions;
- proximity to the historical center with all its flavors;
- abundance of cafes, restaurants and recreational facilities;
- walking distance to cultural objects: theaters, museums, art galleries;
- two large and beautiful landscaped parks in the immediate vicinity;
- polyclinics, private hospitals and pharmacies are located nearby;
- a large selection of fitness centers, stores and boutiques, benches, etc.
From the above we can conclude that it is quite comfortable to live here with the whole family. In addition, from Ayioi Omoloyites you can easily reach any other neighborhood of Nicosia, which is useful for those who work or do business.
This location is also well-suited for investment: the demand for real estate here is quite high, both for buying and renting. Don't forget that there are several universities in the city center, and many students rent accommodation closer to their studies.
Since Ayioi Omoloyites is quite dense, there are not many new buildings. This is the main disadvantage of the neighborhood. Nevertheless, there are some very interesting objects:
- Agnes Dream Home - a small family complex with cozy apartments, parking and large terraces;
- Artemis Residence - a complex of 12 spacious 3-bedroom apartments with comfortable layouts, panoramic windows and gorgeous terraces.
Both foreigners and locals prefer to buy real estate in this area. Yes, the cost per square meter here is higher than in other locations (except for the center), but it is a reliable investment, as the apartments will not fall in price and will always be in demand.
Properties available for sale and rent in Agnes Dream Home project
Properties available for sale and rent in Artemis Residence project
Strovolos
This large and very developed area of the capital is considered to be one of the most successful areas to buy real estate. It has an excellent infrastructure that will satisfy lovers of active lifestyle, families with children, pets, working people and businessmen. Private and public institutions, places for entertainment, cafes and restaurants, a lot of stores, excellent roads, plenty of parks and places for walking, shopping centers. In short, life here is bustling.
In addition, it is easy to get from Strovolos to both the city center and other districts. This is consistently appreciated by those who often and actively move around Nicosia. And the established system allows you to move not only by car, but also by public transport, which not available in all areas of Cyprus.
In Strovolos there is a large secondary housing stock, but foreign buyers prefer new buildings - and there are also enough of them. The neighborhood continues to grow and develop intensively, while prices - are still reasonable. Therefore, buying real estate in Strovolos is profitable in any case, regardless of the purpose of purchase. This is a comfortable place to live and rent an apartment.
Aglantzia and Plati
According to its infrastructure, Aglantzia is slightly behind Strovolos. This is evidenced by the statistics of real estate purchases. Nevertheless, it is just as large a neighborhood with everything you need for a comfortable permanent residence. Aglantzia is loved for its quieter atmosphere and the proximity of the giant park-forest of Athalassa. The local authorities have cleaned up the park over the past few years and continue to work on making it even better.
Real estate in Aglantzia is quite affordable, and you can buy an apartment in a new building, as well as secondary housing. Demand for real estate in this area is held at a stable level, and given that it continues to develop - it makes sense to invest in the acquisition of apartments. In a few years they will increase in value, and renting them out can be very profitable.
It is worth taking a look at a separate part of Aglantzia - the Plati neighborhood. It is considered almost elite, as it is located in close proximity to the park Athalassa and, therefore, has all the resulting "bonuses". It is a green and quiet neighborhood without excessive fuss. There are beautiful and quality real estate, which attract foreign buyers.
Dasoupolis
In fact, is a small "isthmus" between Aglantzia and Strovolos, so it has all the advantages of the above-mentioned areas. Here and developed infrastructure, and high demand for housing, and easy access to the center.
Interestingly, relative to the same Plati, the prices here are lower. At the same time, getting to this clean and green neighborhood is not difficult. So, if you want to save up to 50 thousand euros and still get comfortable living conditions - you will definitely like Dasoupolis.
Engomi
It is considered an elite neighborhood of Nicosia, and all thanks to its favorable location. It is very close to the center and borders on Strovolos, but it is also a little away from the center, which allows you to keep a quiet and peaceful atmosphere with the proximity of developed infrastructure.
From Engomi it is very easy to get to all parts of the city, although it is not necessary to travel outside of the location. It has its own supermarkets, private schools, hospitals, restaurants and sports centers.
Despite the high status, it is quite possible to buy an inexpensive and very comfortable apartment in Engomi. Sometimes you can find ads for private houses, but these will be offers on the secondary market. But there are plenty of new apartment buildings in Engomi, which will appeal to investors and those who buy an apartment for the purpose of living.
Lakatamia
Lakatamia is quite remote from the center, but it borders Strovolos. Therefore, if there is a request for permanent residence, it makes sense to take a closer look at this place. Lakatamia is not as noisy as the listed central areas, while it has a fairly developed infrastructure. If you do not need to get to and from the center of Nicosia every day, then Lakatamia may be the best option.
Another plus of the neighborhood is the opportunity to buy a separate house with a plot of land. In the center of Nicosia you can't find such a thing! Therefore, if you need private space and large areas for living, it makes sense to consider real estate in Lakatamia.
Latsia
The neighborhood can be called the twin brother of Lakatamia. It too is far from the center, has its own infrastructure and quite convenient access to the rest of the city. In Latsia you can easily find not only apartments, but also a private house, and in a closed new complex. This will be an advantage for those who do not need an apartment, but need a residence permit in Cyprus.
From the north Latsia borders with Athalassa Park, which is a nice bonus for those who like to walk. The atmosphere in the area is calm and not as noisy as Strovolos or the center, so it is safe to settle here for those who are looking for a balance between silence and comfortable infrastructure.
Tseri and Geri
So far, foreign buyers are not very interested in buying real estate in two rather large suburban municipalities of Nicosia. On the one hand, they can be understood: from here it is really difficult to get to the center, plus the infrastructure here is simpler. There are necessary stores and supermarkets, clinics, schools and offices, but still for some needs will have to go closer to the center.
Nevertheless, Tseri and Geri should be noted as quiet, calm and with prospects for good development. Villas are mostly built here, so people who value privacy and secluded lifestyle want to live here. Apartments are also found, so you can choose a property for every taste.
Prices in these remote areas are much lower than in the center, and certainly do not compare them with Limassol or even Paphos. Interestingly, the development is quite active - this means that soon the areas will become more in demand and will rise in price. So it is worth looking at them not only from the point of view of buying for living, but also from the point of view of investment.
More information about all projects in Nicosia can be obtained from the specialists of DOM, the #1 real estate agency in Cyprus, by phone +357 22 030670, or in person at: Archiepiskopou Makariou III 1, Lakatamia 2324, Nicosia, Cyprus.
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