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Mercury GroupThe platform Global Properties features over 241 ads of property in Cyprus, sourced from leading agencies and developers. We thoroughly vet sellers to ensure the safety of transactions.
To select an apartment in the capital, users can utilise search filters, sorting options by price, popularity or listing date. The site also provides a map search feature and quick links. Additionally, prices are listed in different currencies.
- The minimum cost of an apartment is USD 238497
- The most expensive object is USD 4,7 million
- The minimum area is 75 m²
- The largest area is 641 m²
Cyprus offers an investment attraction programme, allowing foreign buyers to obtain a residence permit through real estate investment on the island. To qualify, foreign investors must invest a minimum of USD 300,000 + VAT in local properties, including residential houses, apartments, villas or commercial spaces.
Additionally, buyers must meet several criteria, including no criminal record, health insurance and financial independence.
Apartments for sale in Nicosia
The purchase of apartments in Nicosia for investment presents a residential asset with a high yield potential.
The capital city boasts numerous attractions and historical sites that draw both domestic and international tourists. Visitors can explore the Old Town, characterised by medieval fortresses, narrow authentic streets and numerous churches. It's also worth checking out the Archaeological Museum, where you can learn more about the ancient history of Cyprus.
The capital serves as an excellent option for permanent residence, offering a plethora of employment and business opportunities. Nicosia is home to many international companies, banks and financial institutions. Moreover, the city boasts a well-developed infrastructure, comprising schools, universities, medical facilities and cultural centres.
As the capital, Nicosia serves as the economic heart of Cyprus. It’s home to the headquarters of numerous companies and institutions, providing ample employment opportunities, especially in services, finance and administration.
Transportation in the capital is predominantly car-centric, with most residents relying on personal vehicles due to the city's infrastructure, which is designed to accommodate car travel. Public transportation mainly comprises buses, which service the city and its suburbs.
Foreigners can purchase flats in Nicosia within the following attractive neighbourhoods:
- Old Town: This historic centre exudes a unique atmosphere with its medieval streets, fortresses and churches. While many properties are categorised as landmarks, you can still find renovated old buildings that appeal to lovers of authentic architecture;
- Engomi: Situated in the northwest, this suburb offers modern apartment complexes and new buildings. The apartment prices in Nicosia vary, but you can find affordable and comfortable residences of various configurations and styles;
- Strovolos: This area is one of the most popular places to buy real estate, thanks to its developed infrastructure and convenient location. Buyers have access to both a secondary apartment in Nicosia, Cyprus, as well as a house in a new building;
- Agios Omologites: Ideal for those accustomed to a busy urban lifestyle in the heart of the capital. The presence of numerous secondary and higher educational institutions increases the demand for rental properties in Nicosia. While secondary housing is prevalent, there are also a few new properties available.
When selecting a neighbourhood to purchase a flat in Nicosia, it’s crucial to consider personal preferences and requirements. Additionally, proximity to major social amenities including stores, restaurants and educational institutions, as well as accessibility to public transportation, should be considered. Furthermore, it’s essential to align the budget with the cost of apartments in Nicosia and Cyprus within each specific neighbourhood.
Reasons for investing in an apartment in Nicosia
The real estate market in Cyprus is undergoing substantial growth, with particularly impressive figures noted for 2023. This trend is largely attributed to the limited supply of new real estate. In 2023, foreign transactions increased by 16% compared to the previous year, with Nicosia experiencing a notable surge of 25%. Foreign buyers accounted for a total of 44.3% of transactions in Cyprus.
Due to the rapid development of the market, increasing demand for housing and the influx of international companies, purchasing apartments in Cyprus is becoming a profitable investment. Foreign investors can purchase a residence for personal residence or rental purposes. In March 2024, the average rental value of apartments in Nicosia reached USD 6.72 per month per square metre, marking a significant increase of 37.70% compared to March 2023 (USD 4.88 per month per square metre). The return on investment in the capital is as follows:
- 1-bedroom apartments: 5.54%
- 2-bedroom residences: 4.68%
- 3-bedroom properties: 4.88%
Buying apartments in Nicosia
On the website Global Properties you’ll discover an extensive selection of apartments and flats in Nicosia, ranging from budget options to luxury designer housing units. The platform features functional search tools to help you efficiently find properties that match your criteria. Users can filter properties by price, size, number of bedrooms, number of floors and other characteristics.
Moreover, our website regularly updates the catalogue, providing up-to-date information about the most attractive offers on the market. If you require assistance in choosing a suitable apartment or villa in Nicosia, our operators are always ready to offer their professional support.