Central Park Residences in Nicosia

The urban logic of the project

Central Park Residences sits in the very centre of Nicosia, next to the capital’s business, government and cultural points. The official page gives the address as Evagorou 25 and about 50 metres to the park. For living, that means proximity to the centre and walking access to part of the city’s infrastructure. For letting, it means an audience of business and diplomatic tenants who depend on the city all year rather than only in the tourist season.

This project should not be compared with the Limassol front line on the basis of which has the better view. The task here is different: to buy a finished urban asset with predictable surroundings. Nicosia offers no beach scenario, but it offers a capital’s economy, government institutions, offices and long-term letting tied to work.

The building and what it has

The tower was completed in 2019. It holds 36 apartments, and that is what fundamentally separates Central Park from large resort complexes. A small number of residences can mean a quieter environment and less traffic through the common areas. At the same time the cost of a concierge, a gym, a sauna and a complex parking system is spread across fewer apartments, so the service charges need checking separately.

The materials list a 24-hour concierge, a fitted gym, a sauna, a café on the ground floor and an automated Klaus Multiparking with electric-car charging. A parking system of that kind saves space in the city centre, but what matters to a resident is its actual speed, its reliability, the procedure for visitors and what happens when it breaks. It is a textbook case of translating a handsome line in a brochure into an everyday scenario.

Apartments, areas and furnishing

The 2025 price table shows two- and three-bedroom apartments and a penthouse. The two-bedroom types have 109.2 m² internal and 148.3–154.3 m² of total covered area including the veranda and the share of common parts. The basic three-bedroom has 135.8 m² internal and 197 m² total covered. Larger types sit on the upper floors. The penthouse in the table has 277.3 m² internal and 369.6 m² total covered.

The table notes that every apartment is fully furnished. That matters when comparing with a new build: the price of a finished unit covers not only walls and finishes but a set of furniture, appliances and lighting. Before the deal, take an inventory: what exactly stays in the apartment, what condition the appliances are in, and whether the seller is excluding anything from the sale.

Price and the rental model

The 2025 table showed prices from €845,000 for a three-bedroom on the sixth floor, from €866,000 for a two-bedroom on the 17th, and €3.2m for the penthouse. Prices exclude VAT and may have changed since. Note the unusual relationship: a three-bedroom on a lower floor costs less than a two-bedroom higher up. It shows neatly how much price in a tower depends on the floor and the panorama rather than on the number of bedrooms.

A separate investment presentation offers not a single unit but a package of 16 apartments at €15.15m with a stated guaranteed net yield of 5% over five years. That figure cannot be carried across to an individual apartment. Any guarantee has to be read together with the contract, the credit risk of the guarantor, the management terms, the costs and the exit procedure. For a single unit it is neither a rental rate nor a promise of income.

Who Central Park suits

For living, the project suits someone who wants a finished apartment in central Nicosia and does not need a beach lifestyle. For letting, it suits an owner aiming at business, diplomatic and service tenants. Because the building is finished, you can check the view, the noise, the state of the common areas, the lifts and how the service actually works before the deal — none of which is possible off-plan.

The main questions before buying: the service charge and its history, how the parking works, the rules on letting, the furniture inventory, the condition of the windows and the building services, and how occupied the building is. If a substantial share of apartments is let by the night, that changes the character of the common areas and the rental profile; the actual share needs checking rather than assuming from a presentation.