Despite growing demand, especially from students, the rental market in Cyprus is showing signs of stability. According to Marinos Kinegirou, head of the Council for the Registration of Real Estate Agents, the situation is stabilizing thanks to new residential property developments, which balance supply and demand.
This stability is good news for tenants and landlords alike, as it provides predictability and protects the market from sharp fluctuations, Kinegirou noted.
Limassol remains the most expensive city
Limassol continues to lead the way in rental prices. This is directly linked to economic growth, business development, and the influx of foreign companies. The city has become an international business center, attracting professionals from abroad and creating high demand for quality housing. Despite the construction of new complexes, demand exceeds supply, maintaining the price gap with other cities.
Student activity also influences the market
In Nicosia, the island's largest educational center, rentals are forming around universities. The construction of modern student campuses and infrastructure helps keep prices down and expands choices for residents.
Paphos combines two factors: the presence of students and its status as a leading tourist destination. The impact of tourism on housing prices along the coast is particularly noticeable. The construction of student dormitories has stabilized prices.
In Larnaca, student influence on the market is minimal, so rental rates remain moderate, and growth is steady.
Current price benchmarks for 2025
The most affordable one-bedroom apartments are in Paphos and Larnaca, starting at €500 per month. In Nicosia, the same apartment would cost €600–650, and in Limassol, at least €1,000.
The lowest prices for buying are also in Paphos: a one-bedroom apartment can be purchased for €85,000. Limassol is the most expensive, with similar housing costing €170,000.
Market Outlook:
Experts note that if the influx of students and foreign specialists continues, prices in the leading cities may rise slightly. However, the construction of new complexes will help maintain a balance in the market as a whole.