Property in Cyprus Nicosia
Property in Cyprus has seen price rises in Cyprus which
have led to steady capital gains for Cyprus property
owners. Recent announcement by low cost airlines that they
have new routes to the island are set to make property in
Cyprus even more disirable. One city that overseas
investors love is Nicosia. The city has been a firm
favourite for overseas property buyers and offers some
attractions that you simply cannot ignore these include:
The sun shines for approximately 330 days of the year.
Crime rate is 1/6th 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.
The telecommunication systems are very advanced.
Advanced medical care.
Cyprus net rental returns vary between 4.5% to 11% and
capital appreciation is still in double figures, expecting
to show 10 to 17.5%. The average rental net return in
Britain today is around the 3% to 4% mark, and capital
appreciation generally matches this.
The Land Registry Department in Cyprus is one of the most
advanced and reliable system in the world.
Steady Cyprus house price increases have been putting a
smile on the faces of the islands home owners and with the
recent announcement by low cost airlines the news cannot
get better One city that overseas investors love is Nicosia.
About Nicosia
Nicosia is the capital and largest city in Cyprus. The
city is located on the Pedieos River and the population of
the city is 206,200. The city is modern with several
shops, restaurants and entertainment. The main industries
include textiles, leather, pottery, and plastics. There
are also several copper mines near the city.
Nicosia is located in the center of the island and has a
historic feel with a Royal Palace and several Byzantine
churches. The streets and old houses are very ornate. The
Cyprus Museum is home to a large collection of Cypriot
treasures and antiques. The heart of Nicosia is Eleftheria
Square, also known as Freedom Square. The city hall, post
office and library is located here.
Northern Cyprus has a large property market of apartments
and villas. The town of Karsiyaka is projected to be the
next number one area for overseas property investment. The
town is only half an hour from Nicosia is expected to
become a luxury development area with hotels, vacation
homes and luxury villas. The area is simple with coffee
shops and markets, but the area is very beautiful and
nestled into the mountainside. The majority of the
property in this area has been allocated by the government
for development for the tourism industry and several
superior resorts are expected to begin construction. The
area features stunning beaches that have been relatively
untouched as well as numerous mountain trails. Shops,
supermarkets and leisure facilities are also expected to
begin growing in this region, making the area prime
investment property.
The climate of Cyprus is very Mediterranean. The area is
still very natural except for the major city districts.
The outskirts have attracted numerous people because of
their beautiful beaches and mountain scenery. Seaside
homes are very popular with vacationers, tourists and
retirees.
