Property in Cyprus has seen price increases in Cyprus which have led to constant capital gains for Cyprus homeowners. The recent announcement by low-cost airlines that they have new routes to the island will make properties in Cyprus even more desirable. One city that foreign investors love is Nicosia. The city has long been a favorite with overseas property buyers and offers some attractions that you simply cannot ignore, such as the following:
The sun shines for about 330 days a year.
The crime rate is 1/6 of the EU average.
The cost of living is much lower than in many parts of Europe.
Ninety percent of Cypriots speak English.
The legal and banking systems are based on the British one.
Telecommunications systems are very advanced.
Advanced medical care.
The net return on rentals in Cyprus ranges between 4.5% and 11% and the capital appreciation remains in the double digits, and is expected to be between 10 and 17.5%. The average net rental return in Britain today is around 3% to 4%, and capital appreciation generally coincides with this.
The Cyprus Property Registry Department is one of the most advanced and reliable systems in the world.
The constant increases in house prices in Cyprus have put a smile on the faces of the owners of the islands and, with the recent announcement of the low-cost airlines, the news cannot get better. One city that foreign investors love is Nicosia.
About Nicosia
Nicosia is the capital and largest city of Cyprus. The city is located on the Pedieos River and the city’s population is 206,200. The city is modern with various shops, restaurants, and entertainment. The main industries include textiles, leather, ceramics, and plastics. There are also several copper mines near the city.
Nicosia is located in the center of the island and has a historical atmosphere with a Royal Palace and several Byzantine churches. The streets and old houses are very ornate. The Cyprus Museum houses a large collection of Cypriot treasures and antiques. The heart of Nicosia is Eleftheria Square, also known as Liberty Square. The town hall, the post office and the library are located here.
Northern Cyprus has a large property market for apartments and villas. The city of Karsiyaka is projected to be the next number one area for overseas real estate investment. The city is only half an hour from Nicosia and is expected to become a luxury development area with hotels, holiday homes and luxury villas. The area is simple with cafes and markets, but the area is very beautiful and it is located on the side of the mountain. Most of the property in this area has been allocated by the government for the development of the tourism industry and construction of several superior resorts is expected to begin. The area has stunning beaches that have been relatively unspoiled, as well as numerous mountain trails. Shops, supermarkets and leisure facilities are also expected to start growing in this region, turning the area into a prime investment property.
The climate of Cyprus is very Mediterranean. The area is still very natural except for the main districts of the city. The outskirts have attracted many people for its beautiful beaches and mountainous landscapes. Seaside homes are very popular with vacationers, tourists, and retirees.
