According to a study by consulting company Perprice , rental prices for standard apartments in major cities of Cyprus will increase from August 1, 2025, to October 1, 2025. The study included one-, two-, and three-bedroom apartments in the areas of Limassol, Nicosia, Paphos, and Larnaca.
The study defines “standard apartments” as properties smaller than 200 square meters, not penthouses or luxury residential complexes, not located on the seafront, and without swimming pools. Standard apartments account for up to 40% of the country’s residential real estate market and are the most in-demand rental segment.
General trends in the rental market
The standard apartment market is showing trends similar to the overall rental market in Cyprus. Overall, rental prices have increased in all major cities, with the exception of certain categories: three-bedroom apartments in Limassol and Larnaca have seen a decline in prices.
The largest increase was recorded in Paphos , where the average rental price for a standard apartment increased by 4.8%, from €1,178 to €1,234. In Nicosia, the increase was 1.4% (from €1,008 to €1,022). Larnaca saw a slight increase of 0.1% (from €1,125 to €1,126). In Limassol, the average rental price decreased by 1.9%, from €1,969 to €1,931.
Detailed dynamics by apartment type
- Nicosia: one-bedroom apartments increased in rent by 0.6% (€683 → €687), two-bedroom apartments by 0.4% (€997 → €1,001), and three-bedroom apartments by 0.1% (€1,335 → €1,336). The total number of apartments for rent decreased slightly from 1,705 to 1,693.
- Limassol: one-bedroom apartments increased in price by 0.6% (€1,400 → €1,409), two-bedroom apartments by 2.0% (€1,943 → €1,981), and three-bedroom apartments by 7.7% (€2,380 → €2,197). The overall supply of apartments remained virtually unchanged (2,516 → 2,524).
- Paphos: one-bedroom apartments fell in price by 0.6% (€887 → €882), two-bedroom apartments increased in price by 7.2% (€1,126 → €1,207), and three-bedroom apartments increased by 2.9% (€1,468 → €1,511). The number of apartments for rent decreased from 335 to 298.
- Larnaca: one-bedroom apartments increased in price by 0.5% (€878 → €882), two-bedroom apartments by 2.4% (€1,136 → €1,163), and three-bedroom apartments decreased by 4.3% (€1,313 → €1,256). Total supply increased from 491 to 542 units.
The study’s data highlights seasonal fluctuations in rental rates, which do not always reflect long-term trends. Rising prices in Paphos and Nicosia and declining rents in certain categories in Limassol and Larnaca demonstrate regional differences and market dynamics for standard residential properties in Cyprus in the third quarter of 2025.
