Insider Business Streets with highest rents in Cyprus

Streets with highest rents in Cyprus

Nicosia’s Ledra Street, Stasikratous Street and Makarios Avenue and Limassol’s Anexartisias Street have the costliest rents for shops in Cyprus, according to a recently-released survey carried out by Danos & Associates.

Covering the first six months of 2019, the survey also shows that rents there have actually doubled within four years. And that Ledra Street is the most expensive of all with the rent for a 50 square metre shop today going for €3,500, compared to €1,750 in 2015 — an increase of 100%.

Rents on Ledra Street range from €20 to €70 per square metre a month while on Anexartisias Street, these are between €20 and €60 per metre a month.

The rent for a 50 square metre shop on Anexartisias Street today is €3,000, compared to €2,000 five years ago.

Up until a few years ago, the island’s costliest street in shop rents was Nicosia’s Makarios Avenue but this has changed. Rents now are between €10 to €60 per square metre and between €15 to €40 on Stasikratous Street. In other words, the rent for a 50 sq.m. shop is now €2,000 compared to € 1,250 five years ago.

The island’s shops are concentrated in its four main cities – Nicosia, Limassol, Larnaca and Paphos, the survey also shows. And that occupancy in the main commercial arteries of major cities increased during the first half of 2019. In addition, shopping centres and department stores continue to be very attractive to consumers who now seem to prefer more comfortable shopping conditions. Plus they like to  combine shopping with food and entertainment.

That’s why shopping centres which provide easy parking and access to air-conditioned areas, thus, combining shopping, entertainment and food under one roof, are popular with consumers of all ages. Anticipation is also high for outlet villages such as Neo Plaza as well, according to the survey.

At the same time, the sale of offices in Cyprus is on the rise with demand for Grade A working space growing significantly over the first nine months of 2019, compared to the last half of 2018.

 

Read more:

https://in-cyprus.com/uk-seeks-to-double-levy-on-single-use-plastic-bags-extend-to-all-shops/

 

 

Top Stories

UK helps employers with slow phase-in of job shield costs

British finance minister Rishi Sunak offered fresh help to employers hit by the coronavirus shutdown on Friday, announcing that future contributions they must make...

One new Covid-19 case from repatriations

There was one new Covid-19 case in Cyprus, the Health Ministry said on Friday, from a total of 2363 tests, bringing the total number...

Limassol: Dead body found in warehouse

  A body has been found in the light shaft of a warehouse on Nicos Georgiou street in Limassol, philenews reports. It said the body of...

Holy Synod to allow weddings during pre-Christmas fasting period

As a result of Covid-prompted wedding postponements, the Holy Synod has decided to allow wedding ceremonies during the pre-Christmas fasting period this year until...

President to discuss phase 3 with scientific advisors on Tuesday

  The team of scientists advising the government on the coronavirus outbreak are due to hold a new meeting with President Nicos Anastasiades on Tuesday...

Taste

Local cuisine: An introduction

Rich in fresh ingredients and tasty herbs, offers the very best of Mediterranean culinary delights. Head out to a tavern and feast on a...

Spiced lamb with beetroot salad and scented yoghurt

Lay the lamb on a tray, skin side down. Rub with crushed garlic, sprinkle with spices and ground pistachios, wrap in plastic wrap and...

Easy seafood pasta with white wine sauce

Ingredients: 2-3 tbsp olive oil 1 garlic clove, chopped 2-3 tablespoons of whipped cream 1/3 cup white wine 300g spaghetti, roughly broken 300-400g of...

Traditional salads that will blow your mind away

This traditional salads will make you actually love salads! Cyprus may be famous for souvla and kleftiko but if you try the traditional salads with...