A woman had a knife held to her throat when two men entered an apartment early on Thursday morning in University Street in south Belfast.
She was one of two women threatened by two men, one of whom was armed with a knife.
One man demanded money.
The pair searched the apartment before making off with a sum of cash and a watch.
Detectives are appealing for information following the aggravated burglary in south Belfast yesterday morning (Thursday 10 February).
Detective Sergeant Young said police received a report that at approximately 5.30am, two men, one armed with a knife, gained access to an apartment in the University Street area of the city and threatened the two female occupants.
He said the women were unharmed during this incident but have been left badly shaken by their ordeal.
Anyone who may have witnessed anyone suspicious in the area yesterday morning or who may have any information or dash-cam footage that could assist police with their enquiries, should contact detectives on 101 quoting reference 194 of 10/02/22.
A report can also be made online using the non-emergency reporting form via www.psni.police.uk/makeareport/. You can also contact Crimestoppers anonymously on 0800 555 111 or online at www.crimestoppers-uk.org/.