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Property in Cyprus Nicosia

By Nicholas Marr

Republish: EasyPublish™ Published: 23Jan2007 Word count: 534 Viewed: 494 time(s) Get Free Content For Your Site

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.

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