Renting an apartment in Cyprus on a tight budget can be a challenge, especially given the peculiarities of the local market and infrastructure.
Here are some tips to help you find the accommodation you want without spending a lot of money.
Define your priorities
Clearly define what is important to you in an apartment. Given that public transportation in Cyprus is not particularly well developed, you may want to look for accommodation within walking distance of work or school, or consider renting or buying a car. Many expats report that they were initially willing to overpay for the chance to see the sea every day, but after living in Cyprus for a few years they appreciate the newness of the building, the reliable double glazing and the quality of the air conditioning.
Research the market
Research the rental market in different areas of Cyprus. Look out for lesser-known neighborhoods that may offer lower prices, but be aware of the availability of basic amenities and the safety of the area.
Since mid-2022, rental prices have skyrocketed significantly: between 15% and 50% in different regions. Today, the most expensive housing in the financial center of Cyprus - Limassol. Even a small studio in the neighborhood of Omonoia is estimated today at a minimum of 950 euros per month. In the capital Nicosia, the most economical studio in the neighborhood Aglantzia will cost 630 euros per month. In Paphos, a 1-bedroom apartment in the Universal area is estimated at a minimum of 700 euros. In Larnaca in the coastal neighborhood of Dekelia 1-bedroom apartment will cost a minimum of 600 euros. In the city of Protaras 1-bedroom apartment in a closed complex with a shared pool is estimated at 500 euros. It should be noted, all these options are fairly decent and quality housing, in which you can live a year or more. As a rule, the lower the monthly fee, the higher the deposit. Usually, you need to make 3 monthly installments at a time: for the first and the last month, as well as a deposit, which is returned if the apartment remains in normal condition (this point should be specified in the rental agreement!). But sometimes owners ask for 4-6 installments or even a year in advance. In my opinion, terribly unfair! But this way landlords feel more secure and have the legal right to choose a client who smells of stability.
Use local resources
Since local websites are favored in Cyprus, look for rental listings on them, as well as in local newspapers and through real estate agencies. Local resources often offer more current and relevant offers. Pay attention to the date of the ad to avoid wasting time. Having chosen an option, immediately write or call the landlords and schedule a viewing. The most convenient resources have the ability to show a detailed video of the room, which greatly saves time in making a final decision. Be careful not to fall into the clutches of scammers!
Be prepared for compromises
You may have to settle for a smaller apartment or a simpler arrangement to stay within budget. However, do not despair! Cypriot real estate is fundamentally very diverse. Perhaps a small studio will have a cozy veranda with a beautiful view or a sparkling swimming pool for the building's occupants. Either way, things may change in a year's time and you'll be moving into your dream apartment.
Consider renting together
Renting with friends or acquaintances can significantly reduce your monthly expenses and allow you to rent a better quality apartment. The only thing is, not every renter will go for such a venture. And you need to be prepared to explain such a decision. However, if you have experience of living in other European countries, the renting in Cyprus will seem the easiest task. It is enough to have a deposit and an identity document in hand.
Direct communication with landlords
Contact property owners directly to discuss discounts or special rentals. Walk around your favorite neighborhood and pay attention to building signs. Often tenants will leave their direct number on balconies. But the trouble is, sometimes they speak only Greek. Can you handle it?
Willingness to negotiate
Don't hesitate to discuss the terms of the lease and negotiate the price. They offer you an apartment for 1200? Ask for 1000 euros. Uncomfortable? Forget it! In Cyprus, haggling is a common thing. Even 50 euros will save you money on water charges. If they write that check-in is strictly without pets, you can also negotiate. You may be allowed to take your favorite cat or dog, which will somehow justify the price. Be sure to specify what additional payments should be made (for garbage collection, cleaning the entrance, etc.). Do you have a private parking space? In Cyprus this is not a luxury, but quite a norm. If you don't have a parking space (it's open, you can't drive into it), try to reduce the price of the rent.
Inspect the apartment before signing the contract
Make sure everything is in order and there are no hidden problems. Who are you signing the contract with? Does this person have the right to make such deals? There may also be surprises inside the premises. Look in the drawers under the sinks. Inspect any suspicious crevices in the walls. Take the elevator up to the roof and the stairs down. Be especially careful with Cyprus penthouses. This luxury is on the market quite widely. The fact is that apartments on the upper floors are often overheated in summer, and in winter they are mercilessly flooded by rain. The exception - penthouses in new buildings and individual houses of older housing stock, well thought out from the architectural point of view.
Understanding the lease agreement
Carefully review the terms of the contract, especially those relating to payment and termination terms. The minimum term of a long-term rental agreement in Cyprus is 12 months. Anything else is considered a short-term lease and is governed by a different law. In addition, the rental agreement must be signed in duplicate and notarized.
Discussing with neighbors and locals
Getting information from people who already live in the neighborhood you're interested in can provide valuable insight into actual prices and living conditions. Ask prospective neighbors how much rent used to cost and how often tenants changed. Most likely, the landlord will be happy if the rent goes up by at least 15%, as is the average in Cyprus.
While there are some challenges to finding affordable housing in Cyprus, careful planning and an active search will help you find the right apartment. Be prepared to compromise and utilize all available resources to make your stay on the island comfortable and budget-friendly.
Read also:
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- Art Square: A Unique Project in the Heart of Limassol
- Real Estate Market in Protaras: Overview of Prospects and Opportunities
- Pros and cons of living in Nicosia
- The Use of Artificial Intelligence in the Work of Designers and Architects in Cyprus
