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Pay in USD and save up to $97,888INVESTMENT OPPORTUNITY
The building is a mix of commercial and residential.
The building has a rental income of about 120,000 per year, with good tenants.
The building was constructed in 2013
The building has a 500 sq.m basement.Ground floor 260+130 sq.mThree floors of 250 sq.m each.1st floor: Office.2nd floor: one 3-room apartment and one 2-room apartment.3rd floor: one 3-room apartment and one 2-room apartment.
Annual Rent: 120,000
Asking price 2.8million 2.45million
Rental Yield: 4.9%
Capital Appreciation:
The Central Bank of Cyprus’s Residential Property Price Index (RPPI) showed a 4% year-on-year increase for Nicosia in Q1 2024. While this is slightly slower than in other regions, it signals stability. Apartment prices in Nicosia grew by 5.1% over the year, while house prices rose by 3.6%.
The cumulative yield based on the existing rent and forecasted capital appreciation is estimated at a moderate 8-10% per annum.
For registering a resale property in the buyer’s name, transfer fees are required. These fees are determined by the property’s market value as assessed by the Land Registry on the purchase date.
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