After several years of rapid price growth, the rental housing market in Cyprus has begun to gradually stabilize. However, Limassol remains the island’s most expensive city for tenants. Although rental prices have virtually stopped rising in 2026, finding affordable accommodation there is still far from easy.
This was announced by the Chairman of the Cyprus Council for the Registration of Real Estate Agents, Marinos Kineyirou. According to him, high rental costs continue to concern families and students who are actively searching for apartments ahead of the new academic year.
How Much Does It Cost to Rent an Apartment in Cyprus?
The average monthly rent for a one-bedroom apartment in Limassol currently ranges from €1,000 to €1,100. By comparison, a similar apartment can be rented for €600–650 in Nicosia, €500–600 in Larnaca, and €500–550 in Paphos.
Rental prices for two-bedroom apartments also vary significantly by city. In Limassol, the average monthly rent ranges from €1,400 to €1,500. In Nicosia, similar apartments cost between €800 and €900, while in Larnaca and Paphos they typically rent for €700–800.
The price difference is largely driven by strong demand for housing in Limassol, where many international companies are based and demand from foreign professionals and expats remains high.
Why Have Rental Prices Stopped Rising?
According to Kineyirou, no significant increase in rental rates has been recorded during 2026. One of the main reasons is the growing supply of long-term rental properties. Due to a decline in tourist arrivals, some property owners have moved away from short-term rentals through tourism platforms and shifted their properties to the long-term rental market. As a result, the number of available homes has increased, easing pressure on prices. The expert believes that if the current level of supply is maintained, the market is likely to remain stable in the coming months.
The Chairman of the Council for the Registration of Real Estate Agents also called on the authorities to review the legislation in order to strengthen protections for property owners in cases where tenants fail to pay rent for extended periods. In his view, the current legal framework creates significant difficulties for landlords trying to evict non-paying tenants.
He also issued a warning to students and their parents, who are currently searching for accommodation before the start of the academic year. The expert recommends working only with licensed real estate agents. Illegal intermediaries are still active on the market, offering non-existent properties, demanding advance payments, or arranging transactions that violate regulations, potentially leading to financial losses and legal problems.