For the second year in a row, rental prices for student accommodation in Cyprus remain high. This is particularly noticeable in university towns with large foreign student populations. According to Polis Kursida, head of the Association of Real Estate Appraisers, demand continues to exceed supply, putting pressure on prices in most cities, particularly Limassol.
Here, the cost of renting a one-bedroom apartment starts at €1,100 (£940) per month and a three-bedroom apartment starts at €1,900 (£1,630). These high prices are due not only to the prestigious coastal location, but also to demand from students at the Cyprus University of Technology (CUT), which is located in the city centre.
In Nicosia, where the University of Cyprus's main buildings are located, prices vary depending on the area. In the popular student districts of Engomi and Strovolos, rents for a one-bedroom apartment start at €700–750 and for a two-bedroom apartment at €1,000. In the more affordable area of Aglantzia, accommodation costs €600–650 for a one-bedroom apartment and €900 for a two-bedroom apartment.
Paphos and Larnaca remain the most affordable areas. Here, rents for one-bedroom apartments start at €600 and for two-bedroom apartments at €900. However, Kursidis notes that there are significantly fewer students in these cities, which affects demand. In Paphos, there is also a shortage of apartments suitable for long-term rental, as many owners prefer to rent to tourists on a short-term basis.
So, why are rents rising?
The main factor is the lack of affordable housing. As well as students, the local population and foreign specialists are also interested in renting. Construction of new residential properties is not keeping pace with demand, and the cost of new apartments includes 19% VAT, which owners often pass on to tenants.
According to Polis Kursida, owners are keen to recoup their investment as quickly as possible, especially given the rising costs of construction and property maintenance. Consequently, average rents continue to rise, particularly in cities with high tourist and business potential.
Dormitories: an affordable alternative to renting
Against the backdrop of high market prices, dormtories are becoming an increasingly attractive option for students. The University of Cyprus (UCY) offers 202 dormitory places with fixed rents ranging from €120 to €140 per month depending on the level of comfort (private bathroom and kitchen). Accommodation is available to Cypriot students who have passed the national exams and to foreign students.
The Cyprus University of Technology (CUT) in Limassol manages three residential buildings in the city centre with a total capacity of 45 places. Rent is fixed at €450 for a studio, €500 for a one-bedroom apartment, €350 for a two-bedroom apartment, and €300 for a three-bedroom apartment per person. All prices include utilities and furniture, and the rent remains unchanged throughout the period of residence.
In addition, the CUT cooperates with the Apollonia residence, which belongs to the Archdiocese of Cyprus. It has 205 places available, 195 of which are offered at subsidised rates based on socio-economic criteria and 15 of which are available at regular rates, mainly for international students.
Renting accommodation for students in Cyprus remains a significant financial expense in 2025. The highest prices are in Limassol and Nicosia, while Paphos and Larnaca remain relatively affordable. In a limited real estate market, university dormitories are becoming a key alternative, especially for those looking to save money.