Nicosia, the capital of Cyprus, has a vibrant business and cultural life with lively festivals, meetings, and entertainment. The city has a concentration of office centers for international companies that grow and develop year by year. Accordingly, the number of employees who need a place to live and work increases. What are the benefits of buying commercial real estate? Further research can be found below in the article.
Features of the real estate market in Nicosia
Only one city in Cyprus does not face the sea – Nicosia. But it is still the country’s most populous and most important business center, where there is an active social and business life. The population of Nicosia exceeds that of the other cities because students, employees of international companies, and Cypriots themselves live here. The influx of tourists is insignificant, but those who wish to feel the unique atmosphere of an ancient Greek city are always there. Therefore, residential and commercial real estate is in demand and guarantees high liquidity for investment. Many non-residential buildings are offices, although the choice of apartments in Nicosia is also huge.
What gives the purchase of an office in Nicosia
Annually more than 1000 companies from all over the world register in Cyprus, which relocate their business to a European country with a sound tax system and a stable economy. These relocations need offices and a place to work. An investment in an office building in Nicosia is, therefore, a sure way to invest and increase your capital. Buying office space with money offers tangible benefits:
- The possibility of obtaining a permanent residence permit – with the purchase of 300,000 euros or more, the investor and his family can get a permanent residence permit under an accelerated program in 2 months;
- A mild tax system – in Cyprus, there is no tax on dividends and foreign income, as well as a favorable corporate tax rate of 12.5%;
- Stable income from investments – the average ROI is 8% per annum;
- Resale opportunities – the value of Cypriot real estate grows every year, so there is a high probability of a profitable resale of the building;
- Quality of life – Cyprus has all conditions for a comfortable life in high-quality conditions.
Office space in the capital is always in demand. Many commercial premises are available for purchase in Nicosia that can be a place of work for people and a sound investment for you.