Rental rates in Cyprus remain high, but after several years of growth, the market is showing signs of stabilization. This is the conclusion reached by the Cyprus Ministry of Interior following a new study.
Rent in Cyprus: Has Price Growth Stopped?
The Cyprus Ministry of Interior notes that the trend toward stabilizing rental rates has been visible for about two years. According to the ministry, prices may be approaching their peak, which could create room for declines in the future. A ministry representative said the first signs of stabilization appeared in 2024–2025. Between 2025 and 2026, no further price increases were recorded in the areas covered by the study. The most stable situation was observed in Limassol and Paphos. In four surveyed areas in each of these cities, rents for apartments and houses had already remained unchanged during 2024–2025.
The situation was different in Nicosia and Larnaca, where rents continued to rise in some areas. In Nicosia, the increase mainly affected three-bedroom houses, while prices for two-bedroom apartments remained mostly stable. Aglantzia was the exception. In Larnaca, both housing types became more expensive. However, in 2025–2026, rental rates remained unchanged in all areas included in the ministry’s study. At the same time, stabilization does not mean that housing has become more affordable. The report emphasizes that rents remain too high for a significant part of the population in many areas.
How Much Does It Cost to Rent a Two-Bedroom Apartment?
The ministry compared the indicative monthly rent for two-bedroom apartments of 80 m2 in September 2024, 2025, and 2026.
Nicosia and surrounding areas
In most of the areas reviewed, prices remained unchanged over the three-year period:
- Nicosia Municipality — €850 per month
- Strovolos — €825
- Agios Dometios — €725
- Lakatamia — €700
The only change recorded between 2024 and 2025 was in Aglantzia, where rent increased from €775 to €800, or by 3.2%. In 2026, the price remained at €800.
Limassol and surrounding areas
In all four areas included in the study, rental prices remained unchanged from September 2024 through September 2026:
- Limassol Municipality — €1,500 per month
- Agios Athanasios — €1,450
- Germasogeia — €1,500
- Agios Tychonas — €1,500
Larnaca and surrounding areas
Unlike Nicosia and Limassol, rental growth was recorded here between 2024 and 2025:
- Larnaca Municipality — from €800 to €900, an increase of 12.5%.
- Aradippou — from €675 to €725, an increase of 7.4%.
In 2026, rates in both areas remained unchanged.
According to the publication, rental prices also increased in other parts of the Larnaca district, including Livadia, Oroklini, and Pyla, with growth ranging from 2% to 22%. However, these areas were not listed separately in the published table for two-bedroom apartments.
Paphos and surrounding areas
In all four areas included in the study, rental rates remained unchanged over the three-year period:
- Paphos Municipality — €650 per month
- Geroskipou — €600
- Emba — €575
- Konia — €700
Among the areas listed, the highest indicative monthly rent for an 80 m2 two-bedroom apartment was recorded in Limassol at €1,500. The lowest was in Emba, near Paphos, at €575.
How Much Does It Cost to Rent a Three-Bedroom House?
Another section of the study focuses on three-bedroom houses measuring 150 m2. Unlike apartments, this category saw especially noticeable increases in some areas of Nicosia and Larnaca during 2024–2025.
Nicosia and surrounding areas
Between September 2024 and September 2025, prices increased in all five areas reviewed:
- Nicosia Municipality — from €1,200 to €1,300 per month, an increase of 8.3%.
- Strovolos — from €1,200 to €1,300, an increase of 8.3%.
- Agios Dometios — from €1,025 to €1,200, an increase of 17.1%.
- Aglantzia — from €1,050 to €1,350, an increase of 28.6%.
- Lakatamia — from €1,025 to €1,125, an increase of 9.8%.
The largest increase among all areas was recorded in Aglantzia, where rent rose by €300 per month in a single year. In September 2026, prices in all five areas remained at their 2025 levels.
Limassol and surrounding areas
In four areas of Limassol, rental rates remained unchanged from September 2024 through September 2026:
- Limassol Municipality — €2,250 per month
- Agios Athanasios — €2,250
- Germasogeia — €2,300
- Agios Tychonas — €2,300
Larnaca and surrounding areas
Between 2024 and 2025, rents for three-bedroom houses increased in both areas shown in the table:
- Larnaca Municipality — from €1,100 to €1,375 per month, an increase of 25%.
- Aradippou — from €950 to €1,075, an increase of 13.2%.
In September 2026, prices in both areas remained unchanged.
Paphos and surrounding areas
In four areas of Paphos, rental rates remained unchanged throughout the period under review:
- Paphos Municipality — €1,100 per month
- Geroskipou — €950
- Emba — €925
- Konia — €1,400
Among all areas included in the table, the highest indicative monthly rent for a 150 m2 three-bedroom house was recorded in Germasogeia and Agios Tychonas at €2,300. The lowest was in Emba at €925.
Why Have Prices Stabilized, and Will Rents Become Cheaper?
The Ministry of Interior links the stabilization of rental rates primarily to government measures aimed at increasing the housing supply. However, external factors continue to affect the market. In particular, construction materials and fuel have become more expensive, while inflation has also increased. Against this background, the ministry considers the fact that rents have remained unchanged to be a positive development.
The ministry notes that the effects of government measures do not appear immediately. New apartments and houses enter the market gradually, so more time is needed to assess the results.
The government argues that housing policy should not be judged only by whether rents have fallen in a specific area, but also by how much the housing supply has increased. Among the main indicators of effectiveness, the ministry points to the number of new residential units, completed construction projects, growth in housing supply, and rental price trends over a longer period.
The ministry considers price stabilization in some areas to be a positive sign. At the same time, the government expects housing affordability to improve further, as some measures supporting the market are still being implemented.