Demand for student housing in Cyprus is increasing as the student population expands. In contrast, the availability of organised student residences remains limited, according to the president of the Council for Registration of Real Estate Agents, Marinos Kynigairou.
Speaking to the Cyprus News Agency (CNA), Kynigairou stressed the importance of starting the search for accommodation early, particularly ahead of the new academic year.
According to his figures, monthly rents for a one-bedroom apartment range from €600 to €900 in Nicosia, while in Limassol they can reach €1,500. Prices in Larnaca and Paphos are broadly similar to those in Nicosia, while one-bedroom apartments in Paralimni cost up to €700.
Nicosia remains the country’s largest student rental market, while Limassol has the highest rents, partly due to demand from foreign workers and businesses.
Larnaca and Paphos are also experiencing increased demand as both cities continue to develop.
Limited supply adds pressure
Kynigairou said rising demand is linked both to the expansion of the student population and the limited availability of organised student residences.
According to completed Statistical Service data, enrolments in tertiary education reached 57,889 during the 2023–24 academic year, an increase of 9.4% compared with the previous year.
In Limassol, around 700 applications for student accommodation are submitted each year, while the number of available places in organised residences remains significantly lower.
Kynigairou said the main problem is not simply the number of available properties but the limited supply of small, furnished and functional apartments at prices students and their families can afford.
Students are also competing with workers, families and people moving to Cyprus for employment, keeping rental prices high.
As a result, many students are forced to look further from their universities or share accommodation with other students.
“The cheapest and best homes are taken quickly, especially before the academic year begins,” Kynigairou said.
Limassol remains the most expensive
In Nicosia, one-bedroom apartments cost between €600 and €900 per month. Two-bedroom properties are approximately 20% to 30% more expensive, while three-bedroom apartments can reach around €1,700.
Limassol has the highest rental costs. One-bedroom apartments can cost up to €1,500, while two-bedroom properties can reach €2,000. Three-bedroom apartments can cost as much as €2,700.
In Larnaca and Paphos, rents for one- and two-bedroom apartments are broadly in line with Nicosia. Three-bedroom properties are around 15% to 20% cheaper at the upper end.
In Paralimni, one-bedroom apartments cost up to €700, while two-bedroom properties can reach around €900. Three-bedroom apartments start at approximately €900.
CUT expands accommodation support
The Cyprus University of Technology (CUT) says its student housing situation is improving following decisions to build residences and introduce rental allowances.
CUT has students in Limassol and Paphos and will soon also have students in Larnaca.
In Paphos, students can stay at the municipal student residence next to the university’s school, while additional apartments owned by the municipality are also available.
Students facing financial difficulties who cannot secure a place in a residence can receive a €250 monthly rental allowance for 10 months, from September to June.
CUT currently has around 180 beds in Paphos, but demand exceeds supply. Its annual budget for rental allowances is €800,000.
In Limassol, the Archbishopric provides 300 beds, with the university allocating 200 of them. CUT is also beginning to use part of its new residence this year.
The university prioritises students who meet financial criteria, followed by first-year students.
CUT aims to have around 900 rooms available once its accommodation projects are completed: 500 in its own Limassol residence, 200 Archbishopric rooms in Limassol and 200 in Paphos.
Residence rents are €350 for students receiving accommodation based on income criteria. Other rooms cost €500 to €550, with electricity, water, internet and cleaning included.
Private student residences have also expanded in Limassol. A new residence in the city centre with around 95 rooms is nearing completion, with prices starting at €650 for a self-contained studio.
University of Cyprus plans 900 new beds
The University of Cyprus currently has 208 student residence rooms, allocated according to socio-economic criteria because of the limited number of places and low rents.
Monthly rent is around €150, including utilities such as electricity and water.
The university is planning additional student residences with capacity for approximately 900 new beds.
According to Cleanthis Pissarides, head of the university’s Studies and Student Welfare Service, the project is currently under consultation with the government and requires state approvals.
The university expects the first 500 beds to become available in around three years, provided the necessary state cooperation and approvals are secured.
The project has been divided into two phases, with the first 500 beds planned initially, followed by the remaining capacity.
Pissarides said the university also helps students, particularly those arriving for the first time, to look for accommodation, although it does not provide direct financial assistance or find rooms on their behalf.
The expansion of university residences is expected to ease some of the pressure on student housing in Cyprus, but the private rental market remains the main source of accommodation for many students.
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