Finding a house or apartment at a reasonable price and in good condition today has become a real challenge. Rental prices in Cyprus remain at record-high levels, and in many cases, an entire monthly income is effectively spent on housing. Rental rates continue to rise steadily, taking up an increasing share of household budgets—especially for lower-paid workers. According to new data, in some cases the cost of rent even exceeds the average salary in the country.
Worker incomes: over one-third earn less than €1,500
The Statistical Service of Cyprus presents concerning figures. It turns out that 36.5% of all workers—both Cypriot citizens and foreign nationals—earn a gross income of less than €1,500. Another 39.7% receive salaries ranging from €1,500 to €2,999. Only 12.7% of workers earn between €3,000 and €4,499, while just 6% make between €4,500 and €5,999. These figures clearly show that the majority of the population struggles to make ends meet, especially amid rising rental costs.
Nicosia: the cost of living in the capital
According to Numbeo data for April 2026, monthly expenses for a family of four in Nicosia amount to €3,030 excluding rent. Meanwhile, the average net salary after taxes in the capital is only €1,542. Rental prices in Nicosia are on average 41.5% lower than in Limassol. Specifically, a one-bedroom apartment in the city center costs around €693, while outside the center it is about €593. A three-bedroom apartment in central Nicosia averages €1,450, and €1,120 in residential areas.
Limassol: the most expensive city on the island
Limassol firmly holds its position as the most expensive city in Cyprus. Monthly expenses for a family of four reach €3,329.4 excluding rent. The average net salary in Limassol is €2,370, which is higher than in the capital, but still does not keep up with housing costs. Renting a one-bedroom apartment in the city center costs about €1,340, and €1,157 outside the center. A three-bedroom apartment averages €2,350 in central Limassol and €1,760 in more distant areas. Even with relatively high salaries, rent consumes a significant portion of income.
Larnaca: a balanced option
Larnaca offers more balanced pricing. Monthly expenses for a family of four are around €2,805 excluding rent, while the average net salary is €1,650. Rental prices in Larnaca are on average 3.5% higher than in Nicosia, but still significantly lower than in Limassol. A one-bedroom apartment in the city center costs about €800, and €620 in residential areas. A three-bedroom apartment costs €1,475 in the center and €1,105 outside it.
Paphos: high costs with modest salaries
Paphos presents a paradoxical situation. Monthly expenses for a family of four reach €2,937 excluding rent, which is 36.6% higher than in Nicosia. However, the average net salary is only €1,659. Renting a one-bedroom apartment in the city center costs about €1,000, and €883 outside it. A three-bedroom apartment averages €1,833 in the center and €1,566 in more remote areas. Under these conditions, local residents face significant financial pressure.
Europe-wide context: how rental prices are growing
Eurostat data for 2025 shows that average rental prices in the Eurozone increased by 2.9% year-on-year. Across the European Union, real rental growth ranged from 1% in Finland to 17.6% in Croatia. The highest annual increases were recorded in Greece (10%), Hungary (9.8%), Bulgaria (9.6%), and Romania (8.2%). In the Czech Republic, rents rose by 6.1%, in Latvia by 5.7%, Lithuania 5.6%, Portugal 5.3%, Slovakia and the Netherlands 5.1%, Estonia 4.9%, Ireland 4.5%, Poland and Austria 4.3%, Italy 3.8%, and Belgium 3.7%. Against this backdrop, the situation in Cyprus appears particularly challenging for renters, whose incomes are not keeping pace with rapidly rising housing costs.