According to the January 2025 Landbank Analytics report, Limassol continues to lead the office rental market in Cyprus. The average rental price in the city is €29 per square meter, while Nicosia remains a more affordable alternative with an average price of €13 per square meter.
There are currently 506 properties available on the Cyprus office rental market, with an average price of €24 per square metre. Limassol accounts for almost 70% of the total supply, with 352 available offices. Rental rates in the city range from €5 to €70 per square metre, reflecting its status as the country’s main business hub.
There are 89 available offices in Nicosia, which is 17.6% of the total supply. Here, the maximum rental price reaches €33 per square meter. At the same time, demand is growing in Paphos: 25 available offices are rented at an average of €17 per square meter, the maximum rate is €50.
Larnaca offers more affordable options with an average price of €15 per square meter, and the maximum price reaches €42. The Famagusta area has the least supply – only two offices with an average price of €17 per square meter and a maximum price of €24.
Rental prices for retail space also vary greatly depending on the area. Limassol remains the most expensive market with an average of €39 per square metre, with a maximum of €94. Nicosia, which has the largest number of retail properties (44), offers more affordable options with an average of €12 per square metre and a maximum of €23.
In Larnaca, rental rates average €18 per square metre, with maximum prices reaching €35. In Paphos, the market is limited, with three available properties averaging €12 per square metre, and a maximum of €14. The Famagusta area offers only two properties with seasonal demand, averaging €9 per square metre.
Warehouse rental prices remain relatively stable across Cyprus, although there are differences between areas. The average rental price for warehouses nationwide is €5 per square metre. Limassol leads in both price (€7 per square metre) and the number of warehouses available (47% of the total supply). Nicosia, with 33% of available warehouses, offers rentals at an average of €5 per square metre. Larnaca has the lowest prices among the major areas, at €3 per square metre.
According to Andreas Christophorides, CEO of Landbank Group, the office and retail rental market in Cyprus continues to meet business needs, offering a variety of options in terms of price and location. Limassol and Nicosia remain the most attractive for businesses, while Paphos and Larnaca offer promising opportunities for investors. The high demand for warehouses in Limassol is due to the presence of the country’s main port, which also affects the price level.
