The July 2025 analysis by Landbank Analytics reveals a sharp decline in the supply of rental apartments across Cyprus, with total number of available units dropping to 1,390 nationwide compared with 3,257 in January.
The report, which draws data from major online property platforms, tracks the average asking rent per district and per apartment type. According to Landbank CEO Andreas Christoforides, the combination of lower supply and heightened summer demand is creating a dynamic and multi-layered pricing landscape.
Limassol: Greatest number & highest prices
Limassol leads the market with the largest number of available apartments (1,013) and the highest rental prices across the island:
- 1-bedroom: €1,651
- 2-bedroom: €2,574
- 3-bedroom: €3,812
- 4-bedroom: €7,224
- 5-bedroom: €7,750
The data reaffirms Limassol’s position as Cyprus’ premium rental market, driven by high-end demand and limited affordable stock.
Nicosia: Stability and strong demand for 3-beds
The capital, Nicosia, currently offers 191 rental apartments, with the bulk in two-bedroom (90) and three-bedroom (63) categories. Average asking prices are:
- 1-bedroom: €1,070
- 2-bedroom: €1,150
- 3-bedroom: €1,823
- 4-bedroom: €1,433
The relatively high rent for three-bedroom apartments reflects strong demand from students and families seeking central accommodation.
Larnaca: Economical options with growing demand
Larnaca lists 128 rental properties, mostly two-bedroom units (92). It remains one of the more affordable districts for renters:
- 1-bedroom: €989
- 2-bedroom: €1,274
- 3-bedroom: €1,498
The city continues to attract interest thanks to value-for-money rental options and its growing popularity among both locals and expats.
Paphos: Stable prices, focus on two-bedroom apartments
In Paphos, 54 rental apartments are available, the majority of which are two-bedroom (34). Rents have seen stable, gradual increases:
- 1-bedroom: €1,245
- 2-bedroom: €1,441
- 3-bedroom: €1,983
The market reflects consistent demand without sudden fluctuations, appealing to long-term tenants and seasonal visitors alike.
Famagusta: Limited supply of apartments, high rent
Only 4 rental apartments are available in the free area of Famagusta, all of which are two-bedroom units. The average asking rent is €2,150, signalling scarcity of supply paired with intense seasonal demand during the summer peak.
Conclusion: A tight market with rising pressures
With apartment supply across Cyprus shrinking significantly since the start of the year, the rental market is becoming increasingly competitive, especially in urban centres. While districts like Limassol and Famagusta are seeing premium pricing, areas like Larnaca and Paphos still offer relatively affordable alternatives.
Whether you’re a renter, landlord, or investor, keeping a close eye on these trends is essential as the market continues to shift in response to supply-demand imbalances and seasonal pressures.
I feel for the local population if the rentals are that expensive. Looks purely for the tourist sector.
It should be less expensive to rent outside the main centres.