Nicosia has been the capital of Cyprus since the 10th century and has established itself as the island's administrative, financial, and business hub. It also has several universities, colleges, and research institutions known and recognized worldwide. The city is the island's cultural, development, and educational heart and hosts most foreign embassies and high-tech companies. It also attracts many international students and workers.

Nicosia is the only divided capital in the world that embraces history and beautifully blends it with modernity. It's politically and geographically the center of Cyprus, with Larnaca International Airport just about 34 km away.
Modern highways connect the city to all main towns, most just under an hour's drive. Nicosia is the largest city on the island, with a population of around 256k. Preserving the history with a renovated “Old City” center and keeping up with the modernity, Nicosia still attracts countless visitors yearly, although much fewer than the seafront cities.

Let's look at the price distribution in the city's most popular areas for renting and selling apartments (one —and two-bedroom apartments in buildings not older than five years).

District Min Sale 1bd Avg Sale 1bd Min Sale 2bd Avg Sale 2bd Min Rent 1bd Avg Rent 1bd Min Rent 2bd Avg Rent 2bd 1bd Rate 2bd Rate
Acropolis 150000 168588 236000 288674 900 950 950 1721 0.56 0.60
Agia Varvara 110000 115000 150000 154000 0 0 0 0 0 0
Agioi Omologites 140000 171500 275000 326931 1000 1733 1400 2175 1.01 0.67
Agios Andreas 0 0 305000 325000 0 0 0 0 0 0
Agios Antonios 155000 161250 210000 240273 0 0 1500 1500 0 0.62
Agios Dometios 110000 130300 160000 208463 1059 1059 1200 1200 0.81 0.58
Agios Vasileios 0 0 0 0 0 0 930 1065 0 0
Aglantzia 106000 137992 137000 269128 0 0 1000 1467 0 0.55
Dasoupolis 150000 155000 225000 264713 0 0 0 0 0 0
Deftera Kato 110000 111667 160000 180444 0 0 0 0 0 0
Engomi 140000 164376 205500 278322 550 834 850 1400 0.51 0.50
Geri 97000 122625 165000 176917 0 0 0 0 0 0
Kaimakli 95000 113812 150000 177817 0 0 0 0 0 0
Lakatameia 75000 126623 140000 207812 0 0 1000 1133 0 0.55
Latsia 110000 129550 160000 208072 0 0 1100 1150 0 0.55
Lykavitos 150 142164 225000 268102 700 720 870 1260 0.51 0.47
Makedonitissa 130000 149350 175000 244617 1250 1250 0 0 0.84 0
Pallouriotissa 108500 144464 130000 210456 0 0 1000 1050 0 0.50
Platy 0 0 284000 341611 0 0 2500 2500 0 0.73
Stelmek 135000 135000 0 0 0 0 1000 1000 0 0
Strovolos 120000 148728 130000 249892 0 0 1000 1251 0 0.50
Town Center Nicosia 118000 152725 165000 260097 0 0 1100 1998 0 0.77
Tseri 98000 114241 135000 166567 0 0 0 0 0 0
Walled Old City 0 0 493000 577143 0 0 0 0 0 0
District Min Sale 1bd Avg Sale 1bd Min Sale 2bd Avg Sale 2bd Min Rent 1bd Avg Rent 1bd Min Rent 2bd Avg Rent 2bd 1bd Rate 2bd Rate

As we can see, the center of the city is priced higher than the rest of the region, which is quite expected since it's where most commercial companies, universities, and amenities are located.

For comparison with other Cyprus cities, please refer to: