Engomi Property Development In Nicosia

Last Updated on: 2nd November 2024, 05:28 am

Engomi, a prestigious suburb in Nicosia, has emerged as a prime location for real estate development Engomi Nicosia, drawing attention from both local and international investors. This area is renowned for its excellent amenities and strategic positioning, making it an attractive option for property developers in Nicosia. Currently, there are 10 properties available, ranging from 2 to 4 bedrooms, each designed with modern comforts and conveniences. These luxurious properties feature indoor areas that vary from 51m² to 160m² and are equipped with energy-efficient features, including floor heating with LG cooling-heating pumps, solar water heaters, and thermal insulation with a thermal facade¹.

The properties not only boast main terraces facing serene green areas but also come with auxiliary terraces and covered parking spaces, catering to the lifestyle needs of discerning residents¹. Additionally, each unit is adorned with Italian kitchen furniture, quality ceramics, and sanitary ware, providing an upscale living environment. Engomi Property Development In Nicosia is clearly on the rise, as developers like Antonis Zenios Developments Ltd focus on creating high-quality constructions that meet the increasing demand for luxury living.

Key Takeaways

• Engomi is a sought-after suburb in Nicosia for real estate investment.
• Ten properties are currently available, with a variety of configurations.
• The average size of apartments ranges from 51m² to 160m².
• Properties feature energy-efficient installations for sustainable living.
• Lesser-known but luxurious property developers are emerging in the area.

Introduction to Engomi Property Development

Engomi stands out as a vital area in Nicosia, harmoniously blending residential tranquility with urban convenience. This modern landscape is marked by its accessibility to key roads, schools, parks, and shopping centers, making it ideal for families and professionals. Engomi’s vibrant community includes many expatriates, adding to the multicultural flavor of the neighborhood.

Overview of the Engomi Area

The real estate market in Engomi is characterized by a diverse range of property options, with prices typically ranging between €2,000 and €3,000 per square meter based on type, size, and amenities. The overall property values have shown a steady upward trend lately due to the area’s growing popularity and continuous urban development². Prime factors driving this increase include the proximity to universities, ongoing urban improvements, and the low crime rate, enhancing Engomi’s reputation as a pleasant place to reside².

Importance of Property Investment in Engomi

Investing in property in Engomi is regarded as a lucrative opportunity, primarily because of its potential for appreciation and overall high quality of life. Investors are particularly drawn to neighborhoods close to educational institutions, where affordable apartments cater to students and professionals. Furthermore, regions near the Mall of Engomi are gaining traction for both living and investment ventures, attributing their appeal to new developments and enhanced amenities².

The Engomi area effectively demonstrates how city planning changes, infrastructure improvements, and new developments impact the real estate market dynamics. As Engomi continues to evolve, potential buyers and investors should remain attentive to these trends as they navigate the property investment Engomi landscape.

Current Real Estate Trends in Engomi

The real estate landscape in Engomi is showcasing dynamic growth, particularly in the segments of residential properties and commercial properties in Nicosia. This trend highlights the increasing demand for various living and working spaces, driven by the area’s strategic advantages and attractive amenities.

Residential Properties in Engomi

Residential properties in Engomi are thriving as developers introduce new projects that cater to a variety of preferences. Prominent features in these developments include modern amenities, spacious designs, and energy-efficient technologies. With a range of options tailored to different budgets, plots are now available starting at €170,000. The average residential property price per square meter in Nicosia is reported at €1,930, solidifying its position as a competitive market for potential buyers³.

Commercial Properties in Nicosia

The commercial property market in Engomi is equally promising, with a rising number of businesses eager to establish operations in this vibrant community. The increase in demand for retail spaces, office buildings, and mixed-use developments reflects the area’s growing population and strategic location. Engomi’s reputation as a hub for businesses has been enhanced with the opening of several key establishments, including the Papantoniou hypermarket and a satellite casino, which cater to both residents and visitors⁴.

Engomi Property Market Analysis

The Engomi property market reflects a vibrant landscape, particularly in the sphere of luxury properties Nicosia. This area is known for its exceptional real estate offerings, ingrained with quality craftsmanship and prime locations. Nowadays, developers emphasize high-end features, including bespoke interior designs and top-tier materials. The luxury segment in this region encompasses properties with prices ranging from €185,000 to well above €200,000, showcasing the increasing desirability of these residences.

Luxury Properties and Their Appeal

Luxury properties in Engomi are increasingly appealing to both local and international buyers, primarily due to the area’s outstanding amenities. As reflected in the Engomi property market analysis, Nicosia has seen a consistent yearly increase in property prices, estimated at about 6%, making it an attractive location for investment opportunities⁵. Accessibility and surrounding amenities support the upward price trend observed in residential properties, especially in sought-after neighborhoods like Engomi and Strovolos, further solidifying their market value⁵.

Land for Sale in Nicosia

The availability of land for sale Nicosia, particularly in the Engomi area, attracts a diverse range of buyers looking to create tailored living spaces. Various plots are currently on offer, priced between €170,000 and €214,000, fostering a lucrative environment for both developers and individual homeowners. This interest aligns with the broader competitive property market that continues to thrive due to economic stability and consistent value appreciation⁵.

Conclusion

The landscape of Engomi Property Development In Nicosia is brimming with potential, catering to both residential and commercial investors. With a diverse population of 18,219 occupying just 11 square kilometers, Engomi exemplifies a thriving community that draws attention due to its ongoing development initiatives⁶. This vibrant locality, underpinned by active sustainability projects aimed at reducing CO2 emissions by 22%, makes it an attractive spot for forward-thinking property developers⁶.

As property developers and buyers navigate the Engomi real estate trends, the area’s focus on luxury and quality offerings is undeniable. Opportunities abound for impactful investment, particularly with the municipality’s commitment to energy efficiency and environmental enhancements. Initiatives such as bike sharing and upgraded public transport systems only elevate the attractiveness of investing here while promoting sustainability.

Furthermore, Engomi’s strategic planning and proactive approach to development underscore its status as a prime destination for real estate investment in Nicosia. As residential and commercial properties continue to evolve, Engomi is well-positioned to foster lasting economic growth, making it a compelling choice for savvy investors looking to capitalize on emerging opportunities⁷.

Source Links

1. https://greenpropertiesdc.com/en/property/engomi-residence-nicosia-sold-out/
2. https://investropa.com/blogs/news/engomi-real-estate-overview
3. https://imin-cyprus.com/guide/cyprus-property-cost/
4. https://estateofcyprus.com/the-kykkos-in-engomi-and-the-frequent-changes-of-shots/
5. https://www.properpropertymag.com/post/analysis-of-cyprus-real-estate-market-in-key-cities
6. https://mycovenant.eumayors.eu/docs/document/3356_1369382447.pdf
7. https://gogordian.com/property/residential-plot-in-engomi–nicosia-9361