A bill designed to regulate Airbnb-style short-term property rentals is almost ready to be put to the vote, but one issue has to be resolved; the ease with which owners would be able to rent out apartments.
The practice of renting properties in Cyprus through Airbnb and other websites has come under the scrutiny of the tax authorities who are looking to address the problem of tax evasion on rental income received.
Cyprus property investors should expect to pay in the region of €2,004/sq.m for a 120sq.m apartment in Paphos and expect to receive a gross rental yield of 2.83% according to the latest figures published by the Global Property Guide.
