According to a study on the house and apartment prices conducted by Danos / BNP Paribas Real Estate, the Cyprus property sector continues to actively recover from the coronavirus pandemic.
This is evidenced by the rise in housing prices in the capital of the country.
By the way, the cost of renting apartments in the capital of Cyprus has recently become equal to the average salary in the country. For example, a family has to pay an average of 14,400 euros per year for a high-quality 3-bedroom apartment in Latsia. At the same time, for a similar option in the more prestigious area of Engomi, they will have to pay about 21,600 euros per year.
The price largely depends on the location, condition and location of the apartment. Thus, the rent for a high-quality two-room apartment in the capital today ranges from 600 to 700 euros, a two-room apartment - from 800 to 900 euros, and a three-room apartment - from 950 to 1300 euros.
If you look at other areas, a high-quality two-room apartment in Strovolos can range from 650 to 800 euros, a three-room apartment - from 850 to 1000 euros, and a four-room apartment - from 950 to 1500 euros. If someone wants to rent a good quality house in Strovolos (with three and four bedrooms), the rent is between 1250 and 2800 euros.
The most expensive areas for renting quality three-room apartments in Nicosia are Engomi and Aglandzia. The rent is between 950 and 1800 euros. At the same time, in Aglandzia, prices can go up to 1,700 euros. Rents for good quality houses (three and four bedrooms) in Engomi range from 1250 to 3000 euros, and in Aglandzia - from 1250 to 3400 euros.
The cheapest area to rent quality apartments is Lakatamia.
A one-bedroom apartment here ranges from 500 to 650 euros, a two-bedroom apartment - from 700 to 850 euros, a three-bedroom apartment - from 900 to 1000 euros. If someone wants to rent a house (with three and four bedrooms) in Lakatamia, then the rent will be between 1000 and 1500 euros. In the area of Agios Dometios, rent of one-bedroom apartments is from 550 to 700 euros, two bedrooms - from 750 to 900 euros, and three bedrooms - from 950 to 1400 euros.
The rent for three- and four-room apartments ranges from 1250 to 1800 euros. In Latsia, if someone wants to rent a quality one-bedroom apartment, they have to pay from 550 to 700 euros, two bedrooms - from 750 to 900 euros, and three bedrooms - from 950 to 1200 euros. For a house of good quality (three and four bedrooms) owners ask from 1250 to 3000 euros.
You can find profitable options for buying real estate in Cyprus on the DOM Real Estate portal. The website also has a large number of rental properties - from residential to commercial real estate. Choose and contact professionals who will help you make the right choice!