Over the past year, rental housing in Cyprus has become significantly more expensive, and for many people renting an apartment or house has long moved beyond an affordable budget. In many areas, prices have risen so sharply that residents no longer even consider them as viable places to live. The increase has affected almost the entire island—from the capital to coastal and tourist areas.
This was reported by the island’s Land Department, which published an analysis of the rental housing market covering the period from September 1, 2024, to September 1, 2025. The analysis focuses on new or fully renovated, unfurnished properties, intended for citizens of the Republic of Cyprus and permanent residents.
Nicosia
In the capital, price growth has been particularly noticeable. The rent for three-bedroom houses increased from €950 in 2024 to €1,300, a rise of €350 per month. In Engomi, one-bedroom apartments rented for an average of €625 a year ago, but by 2025 the price had climbed to €725. Three-bedroom houses in the same area rose from €1,045 to €1,300.
Overall in Nicosia, the average rent for a studio increased from €575 to €675, while one-bedroom apartments rose from €850 to €975. Three-bedroom apartments are now offered at around €1,075 in the city center and €1,050 in Strovolos.
Limassol
Limassol remains the most expensive city in the country. In Germasogeia, the rent for three-bedroom houses rose from €1,850 to €2,300 per month in just one year—an increase of €450. In the same area, studios increased from €1,200 to €1,250, while two-bedroom apartments went from €1,500 to €1,650.
In Agios Athanasios, studio rents rose from €1,000 to €1,150, and two-bedroom apartments from €1,450 to €1,550. Three-bedroom apartments in Agios Athanasios and central Limassol now rent for around €1,850, about €1,800 in Mesa Geitonia, and €1,750 in the Tserkezoi area.
In more affordable communities such as Monagroulli, studios cost about €800, two-bedroom apartments €1,050, and three-bedroom houses €1,500. In Moni, studios rent for €850, while two-bedroom apartments are around €1,075.
Larnaca
In Larnaca, rents for three-bedroom houses increased from €1,000 to €1,375. In the municipality of Aradippou, studios now rent for €650, two-bedroom apartments for €825, and three-bedroom apartments for €1,075.
Prices are significantly lower in Pano Lefkara, where studios cost €350, two-bedroom apartments €450, and three-bedroom houses €650. In Xylofagou, studio rent stands at €500, two-bedroom apartments at €625, and three-bedroom apartments at €775. In Pyla, studios rent for €438, two-bedroom apartments for €750, and three-bedroom apartments for €925.
Paphos
In Paphos, the rent for three-bedroom houses rose from €750 to €1,100 over the year. In the city center, three-bedroom apartments can now be found for about €750, while in Konia they rent for around €850.
In Geroskipou, the increase was particularly sharp: studio rents jumped from €373 to €600, and two-bedroom apartments from €600 to €750.
In more remote areas of the district, prices remain lower. In Polis Chrysochous, studios rent for €500, two-bedroom apartments for €650, and three-bedroom apartments for €950. In Makounta, rents are about €250 for a studio, €300 for a two-bedroom apartment, and €400 for a three-bedroom house. In Marathounta, studios cost €400, two-bedroom apartments €450, and three-bedroom apartments €600.
Free Areas of Famagusta
In the free areas of Famagusta, price growth has also been significant. In Ayia Napa, studio rents increased from €400 to €675, and two-bedroom apartments from €525 to €900. In Paralimni, studios rose from €400 to €675, two-bedroom apartments from €525 to €925, and three-bedroom houses now rent for around €1,225.
In Deryneia, studios cost €625, two-bedroom apartments €775, and three-bedroom apartments €950. In Avgorou, studio rents are €500, two-bedroom apartments €600, and three-bedroom apartments €950. In Achna, studios rent for €450, two-bedroom apartments for €550, and three-bedroom apartments for €675.
What Could Change the Situation
Against the backdrop of rapidly rising prices, the authorities are promoting a “long-term affordable rental housing” plan. If implemented, rents for beneficiaries could be reduced by around 30%. Property owners would be eligible for up to €35,000 in renovation funding, provided they then rent out the property for at least four years at 70% of the market rate.
Experts note that the sharp increase in rental rates has been one of the main drivers behind the launch of housing programs. Their goal is to increase supply, ease demand pressure, and gradually stabilize the rental market, which today remains one of the most pressing social issues in Cyprus.