Apartments for sale in Nicosia

Apartments in Nicosia — life in the business environment of the capital of Cyprus

Nicosia is the capital of Cyprus, but it is not a tourist center. The city has an ancient history, and the architecture of the streets evokes the atmosphere of eastern fairy tales, but tourists come here only rarely and only for excursions. This is because this is the only city in Cyprus with no sea access and is not a resort. However, this does not mean that real estate in Nicosia is not in demand because it is the capital where business is relocated, and companies' employees, expats, businessmen, and relocates work in companies whose offices are located in Nicosia.

The capital of Cyprus is the largest and most populous city in the country. Here are concentrated offices of local and international companies, representative offices of other countries, meetings, conferences, festivals, and concerts. Nicosia lives a vibrant and bustling life and is building new facilities: parks, squares, fountains, and walking and cycling areas. There is also residential real estate construction — private houses and apartment complexes.

Due to the massive relocation to Cyprus of specialists from other countries, apartments in Nicosia are in demand for rent all year round, and demand is not subject to seasonality, so the purchase of residential property in Nicosia can be an excellent way to diversify assets and generate passive income.

The main points when choosing an apartment in Nicosia

There are several types of apartments in Cyprus:

• standard apartments (open-plan living room, one to several bedrooms, the number of bathrooms mainly by the number of bedrooms);
• studio apartment (a combined space that is more suitable for students or a single occupant is not as common);
• duplex (duplexes (premium duplex apartments);
• penthouse (apartments on the top floor of a building with a large terrace or private access to the roof, where you can have your own pool and relaxation area).

Buying real estate in Cyprus in Nicosia can be both on the primary and secondary market. However, the secondary market involves property and subsequent work and renovation costs, which can often total more than the cost of a new home.

When choosing an apartment in Nicosia to buy, pay attention to the following points:

• Proximity to infrastructure — it does not matter if you are buying a property for yourself or to rent, it will still be used for long-term accommodation, as there are no short-term tourist rentals, so close accessibility to schools, kindergartens, pharmacies, and hospitals is essential for a comfortable life.
• Several bedrooms — a family with a child will need a minimum of 2 bedrooms.
• Infrastructure may include a community pool, landscaped garden, recreation area, playground, cafe, and store.
• Primary real estate — buying a new property in Cyprus allows you to get a permanent residence permit in the country with an investment of 300 000 euros plus VAT.

Apartments in Cyprus are different from those in other countries. The peculiarities of construction include:

• the number of rooms is the number of bedrooms, so a 2-bedroom apartment contains 3 rooms (2 bedrooms and a living room);
• living room, kitchen, and dining room are combined;
• as many bedrooms as there are toilets;
• a veranda or balcony is mandatory; there can be more than one;
• very often panoramic view windows;
• required parking space for each apartment;
• a storage room in the house can be attached to the living space.

Over the last year, 2022, the sale of apartments in Cyprus has exceeded the sales of another residential real estate (houses, villas, townhouses), with the bulk of apartments coming precisely in Nicosia. This points to the high demand to buy and rent housing in the capital.

SPM Real Estate specialists will help you buy an apartment in Nicosia in Cyprus, choose the best property according to your individual needs and wishes, and optionally calculate the business model in the case of investment.

How much is an apartment in Nicosia: prices for apartments

Prices for apartments in Nicosia are slightly higher than in other regions of the country, which is quite typical for the capitals. At the level of prices can be compared only Limassol — a city considered the second on the island and almost identical to the money.

The cost of apartments in Nicosia in our catalog starts from 130,000 euros — these are new apartments, often small and one bedroom. Most two-bedroom apartments are 200,000 to 500,000 euros — they are in technologically advanced complexes, often with security systems and essential built-in equipment.

The maximum price for apartments in Nicosia is unlimited and can reach several million euros and the highest level of luxury.

If you need to choose a specific property for your individual needs and in a certain price range, please get in touch with SPM Real Estate specialists — we will help you and match the project to your needs.

Buy an apartment in Nicosia: better for life or business?

Property in any city of Cyprus is suitable for both life and business. However, some nuances affect personal preference. Some small towns like Polis and Protaras are tranquil and almost deserted. Others, like Limassol and Ayia Napa, are noisy and active. Nicosia, as the capital, is among the latter, but its main difference is that it has no access to the sea and is not a resort.

If you want to live in a developed city without crowds of tourists — this city is for you. You can reach the sea within an hour. But if seeing the sea from your window is essential, Nicosia is not for you. This is a city for business people and office workers. It is very convenient for daily and business life. There are many restaurants and cafes, many kindergartens and schools (including Russian and English), and the country's most significant number of universities. Hospitals, pharmacies, banks, government offices — everything is here. So if the beach is unnecessary, you can safely buy an apartment in Nicosia.

If we talk about buying property in Cyprus in Nicosia for business, i.e., to rent it out, there is no problem with this either. As we said above, the city is in demand among the relocators, the number of which increases annually. As statistics show, over the last year, the population growth from migrants has exceeded the natural increase, that is, the birth of children.

If you need to buy property in Cyprus for business purposes and rent it out, please contact the SPM Real Estate team. We will help you choose the best option and calculate the business model. With our support for purchasing real estate in Cyprus, you do not pay us a commission but only pay the cost of the property to the developer.

Other types of residential property in Cyprus

In Nicosia, you can find some of the best apartments in Cyprus. But it is not only apartments that deserve attention here. The choice of objects is significant. It is also:

• private houses;
• villas;
• semi-detached villas;
• townhouses.https://spm.estate/en/

You can find many exciting projects in our catalog, and we will help you choose the most effective one.

When investing in real estate in Cyprus, the SPM Real Estate team will conduct a full-scale analysis of the market and competitors, make a forecast and create a customized business model for you.

FAQ

Where is the best place to buy an apartment in Nicosia?

Nicosia neighborhoods that are great for living and renting apartments: Old Town, Agios Dometios, Agios Andreas, Agios Omologios, Engomi, and Lucabittos.

How can I prove ownership of property in Cyprus?

The title deed is proof of ownership of the property. You can obtain this title from the Land Office. If, for some reason, the title cannot be provided at the time you purchase the property, you can always request information from the Land Department.

How many times do I have to visit Cyprus personally in the process of buying a property?

The deal can be done through online signing, so you do not need to visit the island in the transaction process.

Contact SPM Real Estate and buy Cyprus real estate to make your dream of a beautiful life come true!

SPM Real Estate is your most valuable contact in Cyprus.