Cyprus real estate market experts believe that the capital of the country has all the necessary qualities to become a business development center in the Mediterranean region in the near future. Experts draw this conclusion from the growth rates of the commercial real estate market in the country.
Investors, many of whom come from abroad, pay special attention to both existing commercial real estate objects and those that are still under construction and provide an opportunity for more earnings.
There is a great demand in Nicosia for properties such as offices and shops. One of the reasons for such interest of both local and foreign investors in retail and office space in Nicosia is more affordable prices than, for example, in Limassol. It is no secret that it is Limassol that is now the most actively growing and developing city with various types of real estate, attracting both sponsors and labor from Europe and Arab countries. But at the same time, the rate of price growth in Limassol is already seriously higher than in other cities, which prompts local residents to move to the suburbs. For this reason, the country's capital may well become a serious center of attraction for both institutional and private investors.
The main streets of Nicosia are Makaris, Limassol, Grivas Digeni, John F. Kennedy, Strovolos Avenue and Acropolis. It is here that the most popular commercial objects of the city are located. The city center and the zone between Ledra-Onassagorou and Stasikratus-Makarios streets have the most desirable commercial real estate for businessmen.
Cyprus itself has long been a very interesting place to invest in tourism, industrial and business facilities, as the authorities of the country have provided for the provision of serious tax benefits. The island, which is located at the center of the intersection of routes from Europe to Asia, the Middle East and Africa, offers excellent climatic conditions, professional services, a high level of education, a well-developed infrastructure and, more importantly, a transparent management system, which is typical country of the European Union.
The latest decisions of the Nicosia authorities will contribute to the development of the commercial sector of the capital, influencing the speedy recovery of the economy of the entire country from the crisis - this is the opinion of many experts.