We discussed with Mr. Panicos Nicolaou, CEO of P.N. Nicolaou Estates about the new office opened in Potamos Germasogeias, the expansion of his team and recent buying trends in the real estate market in Cyprus.
Where is the new office located?
Our new office is located in 14 Vasileos Georgiou A Street, Andrea Court Shop 17-18, Potamos Germasogias 4047, ( next to Park Beach Hotel ).
Opening hours are: Opening hours: 9am to 1pm and 3pm to 6pm Monday – Friday
If you would like to set up an appointment with one of our real estate consultants, please call us at 70007700
Why did you decide to open a new office into a new location?
Our new office space is conveniently located on Limassol sea front road, in front of popular Dasoudi beach. It’s a fresh space with a lot of natural light and is a pleasant working environment for both our agents and our clients. Plenty of parking is available next to our office.
Since our first office in Limassol, located in Mesa Getonia area opposite of Ajax Hotel has started becoming small for our continuous growing team and clients. Due to the large number of real estate’s requests we find it suitable to be closer to Limassol areas with very high rentals and sales demands. Our office is now closer to clients searching for homes in Potamos Germasogeias, Ayios Tychonas, Amathus, Mouttagiaka but as well Limassol city center, Neapolis, Enaerios, Limassol Marina and Zakaki close to the new Casino. We are opening our doors for clients who require more information about homes for rent or sale and would need some guidance and help regarding availability, prices and offers. We have residential and commercial properties and our agents are available with details and the best solutions.
For home sellers we can offer advice about the best solutions for a fast sale. Home buyers will always find in our office agents ready to guide them through the many choices that are available, giving them important information regarding prices and real estate market in Cyprus.
Investors will always find it easier to discuss and check the best choices in this continuous changing market.
How big is your team? Do you expect to see it grow over the next year or so?
During the last 24 months our team has grown from 6 to 12 persons due to increasing demand in the Limassol real estate market. Depending on the number of transactions we close in 2019, we will likely be looking to expand further.
What buying trends have you noticed in Limassol and Nicosia over the past few months?
In Limassol we see continuous increasing interest from international and national investors, looking to buy apartments, plots and offices in prime location areas with high expectancy of ROI like Neapolis, Potamos Germasogieas or Columbia. Of course, one of the most important factors in Limassol is the proximity to the sea and pleasant living conditions. Waterfront properties are in high demand in Limassol as well as new properties located in city center or tourist area. A new area that has experienced a rising interest by investors is Zakaki due to the construction of the new Melco Casino. This is a 500 million Euro investment which will transform the area. From the international side, we have demand from Asia, the Middle East and Europe, from investors looking to invest on average €500k to €2m. The national market has also become very active since 2018 thanks to the availability of financing.
Nicosia will be always be attractive as being the capital of Cyprus where many companies are interested to reside. In addition, its high population of students, makes it an attractive buy to let destination and here I am talking about Engomi and Aglantzia areas. The opening of a second shopping mall and the construction of several office and residential buildings shows that there is a high interest as well from investors in real estate market. The best commercial areas in Nicosia are in Limassol Avenue, Spyrou Kyprianou Avenue and Demostheni Severi .
How do you expect 2019 to pan out property-wise in Cyprus?
I am optimistic that 2019 will be a year of growth for Nicolaou Estates in Limassol and Nicosia. I believe that the market in Cyprus has excellent potential, being a perfect location for financial services, shipping companies, software companies and a huge holiday destination for millions of tourists yearly.
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View properties for sale in Limassol on the Nicolaou Estates website: