City Center Properties

Cyprus is a small island and a big percentage of its population is living in the major cities. North Nicosia, Kyrenia, and Famagusta are known for their high density in terms of population making their City Centers advantageous for purchasing rental income-generating properties.

North Nicosia:

The biggest city in Northern Cyprus is Nicosia (Lefkoşa).  Nicosia is the Capital City where the big majority of the governmental offices and thus the government employees are located. It shares the three busiest crossings with South Cyprus.  The city houses the largest shopping district Dereboyu in North Cyprus.  Furthermore, there are 11 universities in Nicosia, Near East University, and Cyprus International University being the most prominent ones with thousands of international students. 

Due to its strategic central location, being the capital and housing the majority of government offices and 11 universities, North Nicosia is experiencing an ever-growing population.  As a result, the city center properties providing easy access to universities, shopping, governmental offices, and South Cyprus crossing are in constant demand,  These centrally located properties are known for yielding above-average returns with easy reselling capabilities.  For this reason especially 2-bed apartments in Nicosia City Center are always in high demand providing solid capital appreciation and high return on investment.

Kyrenia City Centre

Nestled between the Kyrenia Five Fingers Mountain range and The Mediterranean Sea, Kyrenia is where lush green nature meets the azure waters of the sea.  It is considered to be the Tourism Capital of North Cyprus.  With its scenic Kyrenia Harbour, dozens of hotels, 16 world class casinos, vibrant night life and 5 universities, Kyrenia has always been experiencing a transient population activity.  Professionals, tourists and international students all come to Kyrenia, spend some time either for their touristic, professional jobs - activities or studies and leave the city after they’re done with whatever they were doing. 

Furthermore, especially when the Local Cypriots who had lived abroad for their personal reasons decide to return back to their home country, generally the city they choose to live in is Kyrenia.  All of this activity described results in a constant increase in the population of this not so large city.

This way of life of the city results in a constant demand  for the city centre apartments.  Especially professionals and students love to live either in or very close to the city centre due to the vibrant lifestyle and limitless social activities.  As a result, properties in Kyrenia City Centre yield excellent rental returns along with solid capital appreciation.  Any and all properties within the so called ‘apartment zone’ of the city is considered to be a very sound real estate investment in Cyprus.

Famagusta City Centre 

Famagusta (Mağusa) is located in the eastern part of the island. Spanning from Varosha (Maraş) in the south to Bafra Tourism Centre in the north Famagusta encompasses the historical Venetian Old Town together with Famagusta Bay.  

Running parallel to the coast,  Famagusta center has a very popular shopping avenue, Salamis Caddesi, with shopping centers, popular restaurants, bars, and leisure centers primarily frequented by the local and international students.  Downtown Famagusta is home to the Eastern Mediterranean University which is the largest and most populous university in North Cyprus.  At its peak, it has a student population of approximately 25,000 pupils with a great majority being international students from many different countries.   With its high numbers of international students, city center properties in Famagusta are always in high demand with very high occupancy and return on investment rates, booming with high demand in long-term rentals. Flats in this region have high rates of occupancy and rental return as the demand for rentals is very high and the supply of flats is limited with some dormitories offering hotel-like stays for a higher budget, the privately-owned flats can be a very good investment for rental returns.

For more information on our North Cyprus City Center Properties, investment advice, and detailed comparisons between cities and properties, please contact us at: [email protected]