This investment project is conveniently located in the centre of Nicosia and offer fully-serviced rental accommodation with 24-hour check-in. The apartments are set close to restaurants and bars, within minutes’ walk of the Cyprus Museum and the old town. It currently includes six (6) fully equipped and furnished apartments of superior quality and
an office which currently serves as a reception. The apartments can accommodate up to 18 guests. Each apartment features reverse cycle air conditioning, a flat-screen TV with cable channels and ambiance lighting. All one- and two-bedroom apartments offer a lounge with Italian leather sofas and a dining area. Studios have a kitchenette and all other apartments a full kitchen and a washing machine.
The apartments are tastefully furnished and fully equipped. Each apartment comes with all amenities and is serviced daily. High speed wi-fi is available throughout. Secure on-site parking is also available.
Each apartment comes with the following:
Excellent design, high class fittings and level of craftsmanship.
Quality leather beds with premium mattresses.
Fresh linen and French bed covers.
Air conditioning in summer, heating in winter.
Reception desk and 24/7 access to the manager.
Daily cleaning service and speedy maintenance.
Natural APIVITA toiletries of superior quality.
Premium selection of teas, coffees and homemade biscuits.
Complimentary wireless high-speed internet.
The total area of the apartments, including the office, is 473 m2.
All apartments except one are freehold ownership with legal title deeds in the name of the sellers.
One half (58m2) of the Suite is also freehold ownership with legal deeds in the name of the sellers. The other half (also 58m2) is leasehold ownership in the name of the sellers, with 92 years of the lease remaining.
The apartments come with four parking spaces and a common area including a corridor, and a storage for cleaning detergents and a reception. More parking is available just across the apartment building and is currently free of charge for the tenants.
Current income
All boutique apartments (apartments 1 – 3) are currently rented on a long-term basis.
All deluxe apartments (apartments 4 – 6) are currently rented short-term via booking.com, Airbnb and other websites. Our rates and occupancy are one among the highest in the city, higher than hotels in the same area.
Purchase price and return on investment
The above price includes the following:
Legal ownership of the six apartments.
Transfer of company which operates the apartments, including all branding and know-how
Complimentary property and booking management the first year after purchase
Projected income: EUR 104,700 each year, which represents an annual return on investment of 7,51%.
Key aspects of the investment -
Stress-free investment with the current return of 7.51 % per annum.
Fully serviced rental apartments of superior quality. Established business with an excellent track record in providing long- and short-term rental accommodation in Nicosia.
Guaranteed 100% occupancy until the end of 2019 for three of the six apartments.
Prime location in the very centre of Nicosia, close to restaurants, bars, government departments, the old town, and entertainment.
Professional and efficient management. Average occupancy rates exceeding 95% over the past three years. Current booking.com rating of 9,4/10, TripAdvisor rating 5/5, Airbnb rating
5 stars with SuperHost status.
Full property and booking management during the first year after the purchase. Can be extended for up to three years upon mutual agreement.
Compliance with the requirements of the Cyprus Citizenship by Investment Program.