The Nicosia property market is arguably the best performing of all the regions in Cyprus and reflects the continued popularity of the capital of Cyprus when it comes to investing in property. It is the centre of Cyprus political and commercial operations and is where most government departments have their offices.
Who buys property in Nicosia? Broadly speaking the type of person looking to buy a property in Nicosia fall in to the three categories, local Cypriots looking for a new residence, foreign buyers looking for an apartment of house to relocate to and thirdly investors who over the years have learnt that the healthy rental market in Nicosia provides good long term growth as well as enviable rental yields, which are helped in no small way by the fact that property in Nicosia attracts all year round rental and not just season/holiday rentals.
Like any major city, there is a huge choice of suburbs and areas to search for a property in Nicosia and like any city the price of a property will depend on the location. Some of the most popular locations that buyers look at are Strovolos (close to the renowned Junior School), Anglazia, Latsia which although slightly out of town is extremely popular with people looking to live away from the hustle and bustle of Nicosia, and Plati Aglantzias for many years has been one of the most sought after suburbs for Cypriots.
Nicosia is served by a good motorway making it easy for residence to reach the coast at the weekends with Larnaca and its stunning beaches only 30 minutes drive away.
The city has received a boost to the property market with Cyprus with inclusion into the EU. Also of great benefit is the recent opening of the border at Ledra Street in Nicosia, thus giving easy access for people who want to travel to the north of Cyprus.