Cyprus rent prices see triple-digit increases in one year as housing becomes ‘inaccessible’

Rental prices for homes across Cyprus have surged dramatically in the last year, pushing many apartments and houses to a level deemed inaccessible for most Cypriot citizens, according to new data from the Department of Land Registry.

The most sensitive figures show triple-digit annual increases across major urban centres, with the most severe example being the rent for a three-bedroom house in Germasogeia, Limassol, which jumped from €1,850 to €2,300 per month—a €450 monthly increase—in a single year. These stark figures track the market up to 1 September 2025 compared to the same date in 2024, and relate specifically to new or fully renovated, unfurnished homes targeting citizens and permanent residents.

The general trend for three-bedroom houses saw the Nicosia Municipality price rise from €950 to €1,300 (a €350 increase), Larnaca City surge from €1,000 to €1,375, and Paphos increase from €750 to €1,100.

Annual rent increases (2024 vs. 2025)

The table below details indicative one-year rent increases for key residential units across the island:

Current market rents for houses (2025)

The following data reflects average current (2025) rental prices for houses, including figures from areas not considered among the most expensive:

Current market rents for flats (2025)

The table below shows the average current market rents for flats, listing two-bedroom and three-bedroom units across various municipal areas:

Government response and affordable housing plan

The sharp escalation in rental costs is cited as one of the main drivers behind the government’s push for new housing programmes aimed at increasing supply and curbing demand, with the hope that rents will eventually decrease.

If the proposed ‘Affordable Rent’ scheme is implemented, eligible beneficiaries could access rent at approximately 30 per cent below the market rates. The scheme offers owners funding of up to €35,000 to renovate units, provided they are then leased at 70 per cent of the market rent for a minimum of four years.