The number of short-term rental properties registered in Cyprus has seen a significant surge, reaching 8,248 properties as of April 2025, compared to 4,765 just a year earlier. Deputy Minister of Tourism Kostas Koumis highlighted this growth on Tuesday, following a meeting of the Parliamentary Committee on Tourism, where the progress of legislation governing self-catering accommodations was discussed.
Registration Growth and Pending Applications
The increase in registrations is largely attributed to targeted awareness initiatives by the Deputy Ministry of Tourism. With 1,275 applications awaiting approval and an additional 1,170 still pending due to applicants’ delays, the total number of registered properties is expected to rise further.
Back in April 2023, the registry included 4,765 properties with 7,138 beds. Today, the numbers have significantly expanded to 8,248 properties offering 36,640 beds. Koumis emphasized the need for a holistic approach to regulate the sector effectively, acknowledging the varied needs of different destinations, such as urban areas like Nicosia and coastal regions. To address these regulatory challenges, a legislative amendment has been submitted to the Legal Service for review.
Balancing Short-Term Rentals and the Hotel Industry
While recognizing the economic benefits of short-term rentals, Koumis noted that the sector competes directly with hotels, creating regulatory complexities. He stressed that the broader tourism experience in Cyprus is shaped by the hospitality sector’s overall image and first impressions. Ensuring quality standards across all accommodation types remains a priority.
Tourism Performance and Future Outlook
Looking ahead to 2025, Koumis expressed optimism, predicting another strong year for tourism following record-breaking performance in 2024 in both revenue and arrivals. Over the past two years, Cyprus has not only recovered from the loss of the Russian market but has also achieved a 25% increase in arrivals and revenue.
Despite this growth, the main challenge remains the extension of the tourism season, ensuring that Cyprus attracts visitors beyond the traditional peak months. The government’s efforts continue to focus on sustaining long-term growth and competitiveness in the sector.
Source: stockwatch.com.cy