The supply of rental apartments in Cyprus has dropped dramatically, according to Landbank Analytics’ latest report for July 2025. With just 1,390 units available across the island—down from 3,257 in January—the market is tightening rapidly, pushing up prices and reshaping rental dynamics in key districts.
The report, based on listings across Cyprus’ major real estate portals, offers insight into average asking rents by district and apartment size. Andreas Christoforides, CEO of Landbank Analytics, attributes the current climate to seasonal demand and declining availability, creating what he describes as a “layered and evolving rental landscape.”
Limassol: High Demand, Higher Rents
Limassol remains Cyprus’ priciest rental hub and holds the highest number of listings, with 1,013 apartments on the market. Rental prices here continue to soar, reflecting premium demand:
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1-bedroom – €1,651
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2-bedroom – €2,574
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3-bedroom – €3,812
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4-bedroom – €7,224
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5-bedroom – €7,750
The city’s limited supply of mid-range housing keeps pushing rates into luxury territory, especially in sought-after neighborhoods.
Nicosia: Balanced Market With Strong Family Appeal
The capital offers 191 rental listings, primarily in the 2- and 3-bedroom categories. Despite being more stable than coastal areas, prices remain firm due to local demand from families and students:
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1-bedroom – €1,070
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2-bedroom – €1,150
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3-bedroom – €1,823
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4-bedroom – €1,433
Demand for centrally located, family-sized units is driving up rates, especially for three-bedroom homes.
Larnaca: Affordable and Attracting Attention
With 128 apartments for rent—mostly two-bedrooms—Larnaca continues to offer budget-friendly options:
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1-bedroom – €989
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2-bedroom – €1,274
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3-bedroom – €1,498
The coastal city’s growing popularity among locals and foreigners keeps rental activity lively, without dramatic price surges.
Paphos: Steady Growth and Long-Term Appeal
Paphos has 54 rental listings, with two-bedroom units leading availability. Prices show gradual but steady growth:
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1-bedroom – €1,245
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2-bedroom – €1,441
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3-bedroom – €1,983
The market remains stable and attractive for long-stay renters and summer residents alike.
Famagusta: Extremely Limited Stock, Premium Rates
Rental listings are almost nonexistent in the free area of Famagusta, with only four two-bedroom apartments currently on the market. Average rent? A steep €2,150—a clear reflection of summer demand clashing with near-zero supply.
Final Take: Competitive Rental Climate Across the Island
With rental supply nearly halved since the beginning of 2025, Cyprus is facing a highly competitive housing environment. While Limassol and Famagusta remain top-tier markets with steep prices, Larnaca and Paphos continue to offer more accessible options for budget-conscious renters.
As supply tightens and summer demand peaks, renters, landlords, and investors alike will need to monitor the shifting dynamics closely.
Source: Cyprus Property News