Rental prices for standard apartments rise in most major Cypriot cities

Rental prices for standard apartments in Cyprus’ major cities mostly increased between August 1, 2025, and October 1, 2025, according to a new study by consulting company Perprice.

The research focused on standard apartments with one, two, and three bedrooms in the four largest cities of Cyprus: Limassol, Nicosia, Paphos, and Larnaca.

For the purposes of this study, “standard apartments” are defined as properties that are not penthouses, have a total area of less than 200 square metres, are not located in high-rise or other luxury residential complexes, are not situated on the seafront, and do not have a swimming pool.

Standard apartments are the most common type of housing, accounting for up to 40 per cent of the entire residential property market.

According to the research, price trends in the standard apartment rental market generally correspond to price trends across other segments of Cyprus’s residential rental market, allowing the results to be considered indicative of the overall processes taking place in the country’s housing market.

The analysis showed that overall, rental prices for standard apartments increased in all major cities of Cyprus.

The only exceptions were three-bedroom apartments in Limassol and Larnaca, where a decline in rental prices was recorded.

The company noted that the current price changes may be seasonal in nature and may not reflect long-term market trends.

When looking at the four major cities, Paphos recorded the largest overall price increase for standard apartments between August 1, 2025, and October 1, 2025, with an average rent price increase of 4.8 per cent, moving the average price from €1,178 to €1,234.

Nicosia saw an average price increase of 1.4 per cent, with the price rising from €1,008 to €1,022.

Larnaca recorded a slight increase of 0.1 per cent, with the price moving from €1,125 to €1,126.

Limassol was the only city to record an overall average price decrease of minus 1.9 per cent, dropping from €1,969 to €1,931.

Moreover, Nicosia saw slight increases across all standard apartment types. One-bedroom apartments increased by 0.6 per cent, from €683 to €687.

At the same time, two-bedroom apartments increased by 0.4 per cent, from €997 to €1,001.

Three-bedroom apartments increased by 0.1 per cent, from €1,335 to €1,336. The total number of apartments for rent in Nicosia slightly decreased from 1,705 to 1,693 units.

Limassol experienced mixed results. One-bedroom apartments increased by 0.6 per cent, from €1,400 to €1,409.

Two-bedroom apartments increased by 2.0 per cent, from €1,943 to €1,981. Conversely, three-bedroom apartment prices fell significantly by minus 7.7 per cent, dropping from an average of €2,380 to €2,197.

The total number of apartments for rent in Limassol remained nearly stable, increasing slightly from 2,516 to 2,524 units.

Paphos recorded increases in two and three-bedroom apartments, while one-bedroom prices fell slightly.

Two-bedroom apartments increased sharply by 7.2 per cent, from €1,126 to €1,207. Three-bedroom apartments increased by 2.9 per cent, from €1,468 to €1,511.

One-bedroom apartment prices fell by minus 0.6 per cent, from €887 to €882. The total number of apartments for rent in Paphos decreased from 335 to 298 units.

Larnaca also saw mixed changes. One-bedroom apartments increased by 0.5 per cent, from €878 to €882.

Two-bedroom apartments increased by 2.4 per cent, from €1,136 to €1,163.

However, three-bedroom apartment prices decreased by minus 4.3 per cent, falling from €1,313 to €1,256.

Finally, the report showed that the total number of apartments for rent in Larnaca increased from 491 to 542 units.