Rental Apartment Supply in Cyprus Drops Significantly – Key Insights for July 2025

Data from the latest July 2025 report by Landbank Analytics highlights a dramatic decrease in the availability of rental apartments throughout Cyprus. The national supply has fallen sharply from 3,257 units in January to just 1,390 in July, signaling a tightening rental market.

The report consolidates listings from major online real estate platforms, tracking average asking rents by district and apartment size. Andreas Christoforides, CEO of Landbank, points out that this reduced supply combined with a spike in summer rental demand is creating a complex pricing environment that renters and investors need to navigate carefully.

Limassol: Largest Inventory & Premium Prices

Limassol remains the frontrunner with the highest number of apartments available – 1,013 units currently on the market. It also commands the island’s steepest rental rates, reflecting its status as a luxury rental hub fueled by strong demand and limited affordable options.

• 1-bedroom: €1,651
• 2-bedroom: €2,574
• 3-bedroom: €3,812
• 4-bedroom: €7,224
• 5-bedroom: €7,750

Nicosia: Consistent Demand, Especially for Larger Apartments

Cyprus’ capital offers 191 rental apartments at present, with two- and three-bedroom units making up the majority (90 and 63 respectively). Notably, three-bedroom apartments command higher rents, reflecting solid demand from families and university students alike.

• 1-bedroom: €1,070
• 2-bedroom: €1,150
• 3-bedroom: €1,823
• 4-bedroom: €1,433

Larnaca: Affordable with Growing Appeal

Larnaca currently has 128 apartments listed for rent, with two-bedroom units dominating at 92 listings. The district continues to draw attention due to its competitive pricing and mounting popularity among both locals and expat communities.

• 1-bedroom: €989
• 2-bedroom: €1,274
• 3-bedroom: €1,498

Paphos: Steady Market with Moderate Price Growth

With 54 rental apartments available, predominantly two-bedroom (34), Paphos displays a stable and predictable rental market. Gradual rent increases confirm a steady demand balanced between long-term tenants and seasonal visitors.

• 1-bedroom: €1,245
• 2-bedroom: €1,441
• 3-bedroom: €1,983

Famagusta: Exceptionally Tight Supply, High Rents

The free area of Famagusta has just 4 rental apartments on the market, all two-bedroom units. High asking rents averaging €2,150 underscore the scarcity of available homes paired with strong summer demand.

Market Overview: Rising Competition & Pricing Pressures

The significant contraction in rental apartment supply across Cyprus is creating a highly competitive environment, especially in urban hotspots like Limassol and Famagusta, where prices have surged. Meanwhile, locations such as Larnaca and Paphos offer more wallet-friendly options, though choices are becoming limited.

For renters, landlords, and property investors, closely monitoring these evolving trends is essential. The market’s response to seasonal fluctuations and supply-demand imbalances will continue shaping rental affordability and availability.

Looking beyond rentals, if you’re interested in expanding your property portfolio in Cyprus, consider exploring Cheap Apartments for Sale Cyprus or Affordable Houses and Villas to find promising investment opportunities.