13.07.2022
The retail industry has faced major challenges over the past two and a half years as the pandemic has brought significant changes such as changing consumer habits and the rapid growth of e-commerce.
In general, quarantine, movement restrictions, flight bans have negatively affected retail, and today it is in the process of stabilizing and adapting to new standards, many activities are being transferred to electronic form.
As a consequence of the above, in 2021, many retailers were unable to cope and sustain their operations as retailers struggled to meet their rental obligations.
But how much does it cost to rent and buy commercial shops in Cyprus today?
Detailed cost by province:
According to the relevant findings of the Danos Estates report, Limassol is by far the most expensive province, both to rent and buy commercial stores, with Nicosia coming in second.
The cost of buying a commercial store in Limassol ranges from €5,000-€6,000 per sq.m and renting €20-€45 per sq.m.
Prices for buying a commercial store in Nicosia start from 4,000 euros and go up to 5,000 euros per sq.m , and rent – from 15 to 45 euros per sq.m.
Purchase prices in Famagusta, Paphos and Larnaca are the same and fluctuate between €2000-€2500 per sq.m. However, renting shops in Paphos is more expensive, as prices start from 10 euros and go up to 25 euros per sq.m , while in the province of Famagusta they range from 8 to 20 euros per sq.m. .
Finally, Larnaca is the cheapest province in terms of rental prices for commercial shops: they start from 6 euros and go up to 20 euros per sq.m.
