Scores of studies do reflect that real estate industry in Nicosia is witnessing a steady increase once again and the first and foremost reason behind this happens to be the rejuvenated property industry in the realm of the city. What has been the fallout then? Property owners in the sphere of the city are witnessed to have steady gains but lots of other reasons are also fortifying the property industry.

It is worthwhile to mention that Nicosia, besides being the capital and largest city in the dominions of Cyprus, is also the business capital of the region. This seems to be obvious also. A business district must have the endorsement of local administration and positioned on the River Pedieos and nearly in the centre of the island, Nicosia happens to be the seat of government in addition to the main business centre. This also one of the factors that heightens its property sector.

Again recent announcements made by cost-effective airlines that they would have new routes to the island before long has stimulated this island in the eastern Mediterranean to a large extent.

Other reasons rejuvenating Nicosia’s property sector

• The city does enjoy a fine weather, sun shines for nearly 330 days in a year.
• The rate of crime is excessively low with 1/6th of the European Union’s Average.
• Nicosia does enjoy a lower-rate of cost of living than other parts of Europe.
• English is one of the most popular language of the island and no less that ninety percents of Cypriots are familiar with the English language.
• Legal and banking systems of Nicosia are rooted in the British system and hence, other parts of Europe do not find any problem.
• Both telecommunication systems and medical care are highly advanced in Nicosia

Other prominent reasons of rejuvenation of Nicosia’s property sector

It is useful to mention that net rental returns in Cyprus do differ between 4.5% to 11% and capital appreciation is in double figures yet, all set to depict 10 to 17.5%. Again, the Land Registry Department in Cyprus has an exceedingly proficient and reliable system.

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