Rents in Cyprus remain at high levels despite signs of market stabilisation this year, continuing to place significant pressure on household budgets, particularly as the new academic year approaches.
Speaking to CyBC, President of the Council for the Registration of Real Estate Agents Marinos Kynigeirou said parents have every reason to be concerned about the cost of housing, noting that rental prices remain high across all cities.
He described the issue as a long-standing problem rather than a new phenomenon, adding that the Council has submitted proposals aimed at stabilising and reducing rental prices but has yet to receive a response from the state.
Rental prices by city
Kynigeirou said the average monthly rent for a one-bedroom apartment ranges between €600 and €650 in Nicosia, €1,000 and €1,100 in Limassol, €500 and €600 in Larnaca, and €500 to €550 in Paphos.
For two-bedroom apartments, average rents stand at €800–900 in Nicosia, €1,400–1,500 in Limassol, and €700–800 in both Larnaca and Paphos.
Market shows signs of stabilisation
Despite the high cost of accommodation, Kynigeirou said rents have not increased during 2026, suggesting that the market has entered a period of stabilisation.
He attributed the trend to a growing supply of properties available for long-term rental. According to him, lower tourist demand has prompted many property owners to shift from short-term holiday lets to long-term rentals.
Calls for legislative changes
Kynigeirou also argued that legislative changes are needed to provide better protection for landlords against tenants who fail to pay rent.
He said the current legal framework creates significant challenges for property owners and called for reforms to address the issue.
Warning over illegal estate agents
The Council president urged parents and prospective students to use only registered and licensed estate agents when searching for accommodation.
He warned that illegal property agents continue to exploit unsuspecting tenants, leading to financial losses and serious problems during rental transactions.
Also read: Cyprus apartment prices climb as construction costs rise
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