12.12.2022
These are scary times for families living in rental housing in the capital as two-bedroom apartment rents, on average, exceed the national minimum wage. Renting a two-bedroom apartment of 80 to 90 square meters in Nicosia can cost you at least 800 euros per month.
Rising rents and the rising cost of acquiring mortgages due to the trend towards higher interest rates, coupled with the exploding cost of living, are the main hurdles a family in Cyprus has to face. There are several fully furnished apartments that can be rented for less than 900 euros. In addition, most of these apartments are more than a few decades old.
On January 1, a law establishing a minimum wage of 940 euros comes into force.
Two-bedroom apartments in Engomi built in early 2000 range from €800 to €850, while an unfurnished three-room apartment (135 sqm) in popular Dasoupoli , Strovolos , costs from €800 per month.
In Pallouriotissa , where rents are traditionally lower, a three-room apartment built in 1990 costs 750 euros per month.
The rent for a similar three-room apartment in Agios Dometios is 900 euros, while the three-room apartment of 87 sq. m in Strovolos costs 750 euros per month.
The owners of a three-room apartment in the Acropolis are asking for €800.
apartment in Aglania costs €875; in Ayoi Omoloyites rent for a two-room apartment is 750 euros.
Apartments with two bedrooms in the center of Nicosia are rented for 950 euros.
A small one-room apartment of 60 sq. m in the usually cheaper Aglania can be rented for 600 euros.
Three-room apartments (77 sqm) in the suburbs of Lakatamia cost €650/year.
New two-bedroom apartments in Latsia , a southwestern suburb of Nicosia, are rented at prices ranging from 750 to 900 euros.
