Landbank Analytics, a company that specialises in analysing the Cypriot housing market, has conducted a new study to determine average rental prices and property affordability in Cyprus. The analysis covers July 2025, a traditionally busy period for the housing market, making the data particularly relevant for tenants and investors alike.
Demand is growing and supply is shrinking
According to the study, the total number of apartments currently available for rent across Cyprus stands at just 1,390 — almost 2.5 times fewer than in January 2025, when 3,257 properties were on the market. This decline confirms the high seasonal demand and reduced availability of housing, particularly in popular coastal regions.
We see significant differences in rental prices and availability across regions. The ratio of supply and demand, as well as the type and size of housing, shape the unique pricing landscape of each province, noted Andreas Christoforides, CEO of Landbank Group.
Limassol leads in terms of both prices and the volume of offers
With 1,013 properties available for rent, Limassol ranks first in terms of the number of apartments, making it the absolute leader in Cyprus. Most of Limassol's portfolio consists of two-bedroom apartments (502 units), followed by three-bedroom apartments (304 units), one-bedroom apartments (166 units) and larger apartments with three or four bedrooms. Traditionally, the average rent in Limassol is also the highest in Cyprus.
- 1-bedroom apartments are offered here for €1,651;
- 2-bedroom apartments are offered for €2,574;
- 3-bedroom apartments are offered for €3,812;
- 4-bedroom apartments are offered for €7,224;
- 5-bedroom apartments are offered for €7,750.
These figures highlight Limassol's status as an elite business and coastal centre, appealing to both local and international tenants.
Nicosia has a balanced market
Of the 191 apartments available in Nicosia, 90 are two-bedroom and 63 are three-bedroom. There are significantly fewer one-bedroom and four-bedroom options — 30 and eight, respectively.
At the same time, average rental prices in the Cypriot capital remain relatively stable.
- 1-bedroom apartments are offered for €1,070;
- 2-bedroom apartments are offered for €1,150;
- 3-bedroom apartments are offered for €1,823;
- 4-bedroom apartments are offered for €1,433.
Three-bedroom apartments are particularly in demand in Nicosia due to interest from students and families looking for accommodation in the city centre.
Larnaca offers affordable housing by the sea
Larnaca remains one of the most affordable regions for renting. Currently, there are 128 apartments available in the city, 92 of which have two bedrooms. There are also 21 three-bedroom and 15 one-bedroom apartments available.
Average rental prices in Larnaca are as follows:
- 1-bedroom apartments are available for €989;
- 2o-bedroom apartments are available for €1,274;
- 3-bedroom apartments are available for €1,498.
These figures make Larnaca an attractive choice for those who want to live by the sea without breaking the bank.
Paphos offers stability and moderate prices
There are 54 apartments in Paphos, two-thirds of which are two-bedroom properties (34 in total). There are also 11 one-bedroom and nine three-bedroom apartments available to rent.
The average rent in Paphos is:
- €1,245 for one-bedroom apartments;
- €1,441 for two-bedroom apartments;
- €1,983 for three-bedroom apartments.
Prices in the region have remained relatively stable with moderate growth depending on the number of bedrooms, making Paphos a suitable option for families and couples alike.
In Free areas of Famagusta, there is limited supply and high rates
In July 2025, Famagusta will have the lowest number of offers available — only four apartments in the entire region. Three of these are two-bedroom apartments, priced at around €2,150 per month. This indicates an extremely limited rental market in this part of Cyprus, coupled with high demand.
Landbank Analytics' analysis therefore shows that the rental market in Cyprus in 2025 will be under pressure from seasonal demand and limited supply. This is particularly noticeable in Limassol, where rental rates significantly exceed those in other cities. Conversely, regions such as Larnaca and Paphos offer a more balanced ratio of price to affordability.
The province and type of apartment chosen directly affect the cost of rent, so potential tenants need to take a more careful approach to finding accommodation that meets their needs and budget.