A new study conducted by the Cyprus Ministry of the Interior has found that rental prices in the island nation continue to rise rapidly.
And not just for luxury properties in prestigious areas, but also for more modest options. The period covered was September 2024.
A closer look at the different cities in Cyprus reveals the following:
- In Nicosia, the average monthly rent in the prestigious Engomi area is €625 for a one-bedroom apartment, €900 for a two-bedroom apartment and €1,045 for a three-bedroom apartment. On the outskirts of the city you can find cheaper options for €575, €850 and €950 respectively.
- In Limassol, the highest rents were found in the Germasoya area. Here, a one-bedroom apartment will set you back at least €1.2 thousand, a two-bedroom from €1.5 thousand and a three-bedroom from €1.85 thousand. Prices are similar in the popular area of Agios Athanasios, where a one-bedroom apartment costs an average of €1,000, a two-bedroom from €1,450 and a three-bedroom from €1,850. More affordable options are available in the Pano Polemidia area, where the average rent for a one-bedroom apartment is €650, a two-bedroom from €700 and a three-bedroom from €875.
- In Paphos, rents are more moderate, with one-bedroom apartments in the city centre starting from an average of €450, two-bedroom apartments from €650 and three-bedroom apartments from €750. In the suburb of Geroskipu, prices are even lower - from €373, €600 and €675 respectively. This is almost half the rent in Limassol.
- In Larnaca, you can expect to pay an average of 650 euros for a one-bedroom apartment, 800 euros for a two-bedroom apartment and 1,000 euros for a three-bedroom apartment. The cheapest options are in the Aradippou district: from 500 euros, 675 euros and 800 euros respectively.
- The free areas of Famagusta offer more affordable options: in Ayia Napa and Paralimni, one-bedroom apartments start from 400 euros, two-bedroom apartments from 525 euros and three-bedroom apartments from 675-700 euros.