Rents in some areas of Cyprus are dizzying, and according to data from the Ministry of Interior, they appear to have increased again in just a few months since the previous recording.
Based on the latest data from the Department of Lands and Surveys in March, in the Ayios Tychonas municipal district of Limassol, the market rent for an 80-square-meter, one-bedroom house is €1,250. A 100-square-meter, two-bedroom is available for €1,650, while the market rent for a three-bedroom is €2,300.
In the Germasogeia municipal district, the market rent for a one-bedroom house is around €1,250, for a two-bedroom it’s €1,650, and for a three-bedroom, €2,300. Six months ago, the market rent for a one-bedroom in Germasogeia was €1,200, for a two-bedroom it was €1,500, and for a three-bedroom, €1,850. Specifically for Germasogeia, the average highest rent per square meter for an apartment reaches up to €24. Furthermore, the highest rent per square meter for houses, also in Germasogeia, is up to €16.50. To better understand the numbers and rent fluctuations, depending on the area, there are communities where houses are rented for €2 to €2.50 per square meter.
In the Ayios Athanasios municipal district, a one-bedroom house is rented for €1,150, a two-bedroom for €1,550, and a three-bedroom for €2,250. In Ayios Athanasios, the average rent for a one-bedroom last September was €1,000, for a two-bedroom €1,450, and for a three-bedroom €1,850.
In Nicosia (Engomi municipal district), a one-bedroom house rents for €675, a two-bedroom for €1,000, and a three-bedroom for €1,250. In Engomi, last September, the average market rent for one-bedrooms was €625, for two-bedrooms €900, and for three-bedrooms €1,045.
In Paphos, specifically in Chlorakas, one-bedroom houses are rented for €600, two-bedrooms for €750, and three-bedrooms for €975.
In the Larnaca municipal district, a one-bedroom rents for €750, a two-bedroom for €950, and a three-bedroom for €1,375.
In Ayia Napa, one-bedroom houses rent for €675, two-bedrooms for €900, and three-bedrooms for €1,150.
In Paralimni, one-bedroom houses rent for €675, two-bedrooms for €925, and three-bedrooms for €1,225.
The Ministry clarifies that these rents are for new or recently and fully renovated conventional houses, without furniture, and are intended for citizens of the Republic of Cyprus who are permanent residents. This last statement about Cypriot citizens suggests that buildings with the same characteristics might be rented at a higher price to foreigners.
What about apartments?
As for apartments, in Engomi, Nicosia, a 50-square-meter one-bedroom rents for €625, a two-bedroom for €900, and a three-bedroom for €1,050.
In Limassol, in the municipal districts of Ayios Athanasios, Limassol, and Ayios Tychonas, three-bedroom apartments of 100 square meters rent for €1,850. In the Ayios Athanasios municipal district, a 50-square-meter one-bedroom rents for €1,100, and a two-bedroom for €1,450. In Ayios Tychonas, a one-bedroom rents for €1,000 and a two-bedroom for €1,500.
In Paphos, it’s surprising that rents in the Konia municipal district are even higher than in the Paphos municipal district itself. Specifically, in Konia, a one-bedroom rents for €425, a two-bedroom for €700, and a three-bedroom for €850. In Paphos proper, a one-bedroom rents for €450, a two-bedroom for €650, and a three-bedroom for €750.
In Larnaca, a one-bedroom apartment rents for €725, a two-bedroom for €900, and a three-bedroom for €1,150.
In the Ayia Napa municipal district, a one-bedroom rents for €450, a two-bedroom for €575, and a three-bedroom for €725.
In Paralimni, the market rent for a one-bedroom is €450, for a two-bedroom it’s €575, and for a three-bedroom, €750.
The Ministry clarifies that these rents are for new or recently and fully renovated conventional apartments, without furniture, and are intended for citizens of the Republic of Cyprus who are permanent residents.
Below is an indicative list of market rents for houses in various areas.
Nicosia:
Ayios Dometios: one-bedroom (80 sq. m.) €575, two-bedroom €825, three-bedroom €1,025.
Aglantzia: one-bedroom €650, two-bedroom €875, three-bedroom €1,050.
Lakatamia: one-bedroom €550, two-bedroom €800, three-bedroom €1,025.
Strovolos: one-bedroom €625, two-bedroom €925, three-bedroom €1,200.
Limassol:
Kato Polemidia: one-bedroom €1,025, two-bedroom €1,250, three-bedroom €1,650.
Mesa Geitonia: one-bedroom €1,150, two-bedroom €1,550, three-bedroom €1,550.
Mouttagiaka: one-bedroom €1,025, two-bedroom €1,550, three-bedroom €2,200.
Larnaca:
Aradippou: one-bedroom €575, two-bedroom €725, three-bedroom €875.
Livadia: one-bedroom €675, two-bedroom €900, three-bedroom €1,075.
Oroklini: one-bedroom €625, two-bedroom €750, three-bedroom €925.
Pyla: one-bedroom €575, two-bedroom €700, three-bedroom €875.
Famagusta:
Deryneia: one-bedroom €375, two-bedroom €500, three-bedroom €600.
Liopetri: one-bedroom €325, two-bedroom €450, three-bedroom €550.
Frenaros: one-bedroom €325, two-bedroom €450, three-bedroom €550.
Sotira: one-bedroom €375, two-bedroom €500, three-bedroom €600.