Available rental apartments in Cyprus have plummeted by 57% since January, dropping from 3,257 units to just 1,390 island-wide in July 2025, according to new analysis from Landbank Analytics.
The supply shortage coincides with peak summer demand, creating what Landbank CEO Andreas Christoforides describes as “a dynamic and multi-layered pricing landscape” across the island’s rental market.
The analysis, based on data from online property platforms, reveals significant price variations between districts and apartment types, with Limassol commanding premium rates whilst Larnaca offers the most affordable options.
Limassol leads supply but demands highest rents
Limassol leads the market with 1,013 available apartments – nearly three-quarters of total island supply. However, the coastal city also records Cyprus’s highest rental prices across all property types.
Average monthly rents in Limassol reach €1,651 for one-bedroom units, rising to €2,574 for two-bedroom apartments and €3,812 for three-bedroom properties. Larger units command even steeper prices, with four-bedroom apartments averaging €7,224 monthly and five-bedroom properties hitting €7,750.
Nicosia shows strong demand for family units
The capital offers 191 rental apartments, with the highest availability in two-bedroom (90 units) and three-bedroom (63 units) properties. Average rents in Nicosia are significantly lower than Limassol, with one-bedroom apartments at €1,070 monthly.
However, three-bedroom units command €1,823 monthly – reflecting strong demand from students and families – whilst two-bedroom properties average €1,150. Four-bedroom apartments surprisingly cost less at €1,433 monthly, suggesting limited demand for larger family homes.
Larnaca most affordable
Larnaca provides 128 rental options, predominantly two-bedroom units (92 properties), and offers Cyprus’s most accessible rental prices. One-bedroom apartments average €989 monthly, with two-bedroom units at €1,274 and three-bedroom properties at €1,498.
Paphos maintains steady prices
Paphos offers 54 apartments, mainly two-bedroom units (34 properties), with a consistent pricing structure. One-bedroom apartments average €1,245 monthly, two-bedroom units €1,441, and three-bedroom properties €1,983.
Famagusta faces shortage
Free Famagusta presents the tightest rental market with just four available apartments, all two-bedroom units. Monthly rents average €2,150.
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