Rental prices in Cyprus reach record levels
Rental prices in Cyprus reach record levels
Rent prices in Cyprus are rising – AirBnB, holiday apartments and a lack of social housing as price drivers
The rapidly rising rental prices in Cyprus are not only due to the high demand for housing, but also to the increasing use of properties for tourist purposes , such as via AirBnB or other holiday rental platforms .
This development means that housing is becoming scarcer and more expensive for the local population .
A similar situation is also evident in other Mediterranean countries . In Mallorca, for example, many normal workers can no longer afford apartments. The consequence: many people and locals are leaving the island and moving to the mainland or have to move into containers or caravans , which have increasingly been discovered by resourceful entrepreneurs as an alternative business model .
This concept is increasingly developing into a profitable market niche .
But it is not just the tourist use of real estate that is affecting the housing market. Local politics also bears some of the blame. Instead of investing in social housing and promoting affordable housing , the focus is often on rich investors who finance expensive real estate projects. This drives up prices even further and makes it more difficult for local families to find suitable housing.
>>ADVERTISING<<
Buy and rent properties at realistic prices in Cyprus
💶 Funding program for landlords
As part of a new government program, property owners can receive a grant of up to 35,000 euros for the renovation of their apartments . The prerequisite:
- The renovated apartments must be rented for at least four years .
- During this period, the rent may only amount to 70% of the current market value .
🏡 Rental prices in different regions of Cyprus
📍 Nicosia (district & city center)
- Engomi:
- 🛏️ 1-room apartment: 625 €
- 🛏️ 2-room apartment: 900 €
- 🛏️ 3-room apartment: 1,045 €
- City of Nicosia:
- 🛏️ 1-room apartment: 575 €
- 🛏️ 2-room apartment: 850 €
- 🛏️ 3-room apartment: 950 €
🌊 Limassol – Highest rental prices
- Germasogeia:
- 🛏️ 1-room apartment: 1,200 €
- 🛏️ 2-room apartment: 1,500 €
- 🛏️ 3-room apartment: 1,850 €
- Agios Athanasios:
- 🛏️ 1-room apartment: 1,000 €
- 🛏️ 2-room apartment: 1,450 €
- 🛏️ 3-room apartment: 1,850 €
- Pano Polemidia (inexpensive):
- 🛏️ 1-room apartment: 650 €
- 🛏️ 2-room apartment: 700 €
- 🛏️ 3-room apartment: 875 €
🌿 Paphos – Moderate
- Municipality of Paphos:
- 🛏️ 1-room apartment: 5 50 €
- 🛏️ 2-room apartment: 650 €
- 🛏️ 3-room apartment: 8 50 €
- Geroskipou (even cheaper):
- 🛏️ 1-room apartment: 373 €
- 🛏️ 2-room apartment: 600 €
- 🛏️ 3-room apartment: 675 €
🌴 Larnaca – Affordable alternatives
- City of Larnaca:
- 🛏️ 1-room apartment: 650 €
- 🛏️ 2-room apartment: 800 €
- 🛏️ 3-room apartment: 1,000 €
- Aradippou:
- 🛏️ 1-room apartment: 500 €
- 🛏️ 2-room apartment: 675 €
- 🛏️ 3-room apartment: 800 €
🌊 Famagusta – Cheapest rental options
- Ayia Napa & Paralimni:
- 🛏️ 1-room apartment: 400 €
- 🛏️ 2-room apartment: 525 €
- 🛏️ 3-room apartment: 675–700 €
📋 Note on the survey:
The rental prices stated apply to:
- New or completely renovated apartments
- Unfurnished
- long-term
Conclusion:
While rental prices are significantly higher in cities like Limassol , there are still >>even<< cheaper alternatives in regions like Paphos and Famagusta . The new subsidy program could help stabilize prices in the future by supporting affordable rental options after renovations, if landlords comply with this or if the state regularly monitors and punishes violations. 🏘️✨
>>ADVERTISING<<
Buy and rent properties at realistic prices in Cyprus
Source: Statistics; in-cyprus-Philenews
Author: MF_Editorial
While rental prices are significantly higher in cities like Limassol , there are still >>even<< cheaper alternatives in regions like Paphos and Famagusta . The new subsidy program could help stabilize prices in the future by supporting affordable rental options after renovations, if landlords comply with this or if the state regularly monitors and punishes violations. 🏘️✨
>>ADVERTISING<<
Buy and rent properties at realistic prices in Cyprus
Source: Statistics; in-cyprus-Philenews
Author: MF_Editorial
