FOR SALE
-
Building
in
Nicosia, Egkomi
INVESTMENT 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.m
Three 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.
Ground floor 260+130 sq.m
Three 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
Rental Yield: 4.29%
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.
