Rising Rents — With a Few Surprises
We review rising and mixed rental-price patterns across Cyprus’ major cities, offering our viewpoint on what this means for investors and renters.
Between 1 August and 1 October 2025, average advertised rents for standard apartments rose in three of Cyprus’s four largest cities. Paphos recorded the strongest increase, while Limassol’s overall average declined.
The figures describe a specific part of the rental market: one-, two-, and three-bedroom apartments that are neither seafront homes nor luxury units, penthouses, or apartments in high-rise complexes. They offer a useful comparison, but they do not show what every tenant ultimately paid under a signed lease.
The city averages moved as follows:
- Paphos: €1,178 to €1,234, up 4.8%.
- Nicosia: €1,008 to €1,022, up 1.4%.
- Larnaca: €1,125 to €1,126, up 0.1%.
- Limassol: €1,969 to €1,931, down 1.9%.
The differences become clearer when apartments are grouped by bedroom count.
Apartment-Type Breakdown
Nicosia recorded small increases across all three apartment sizes:
- One bedroom: €683 to €687, up 0.6%.
- Two bedrooms: €997 to €1,001, up 0.4%.
- Three bedrooms: €1,335 to €1,336, up 0.1%.
The number of apartments advertised for rent changed slightly, from 1,705 to 1,693.
Limassol showed a sharper contrast between smaller and larger apartments:
- One bedroom: €1,400 to €1,409, up 0.6%.
- Two bedrooms: €1,943 to €1,981, up 2.0%.
- Three bedrooms: €2,380 to €2,197, down 7.7%.
Advertised availability remained nearly unchanged, moving from 2,516 to 2,524 apartments. The fall in the three-bedroom average contributed to the city’s overall decline, even though smaller units became more expensive.
Paphos recorded its strongest rise among two-bedroom apartments:
- One bedroom: €887 to €882, down 0.6%.
- Two bedrooms: €1,126 to €1,207, up 7.2%.
- Three bedrooms: €1,468 to €1,511, up 2.9%.
The number of advertised apartments fell from 335 to 298 over the period.
Larnaca also had mixed results:
- One bedroom: €878 to €882, up 0.5%.
- Two bedrooms: €1,136 to €1,163, up 2.4%.
- Three bedrooms: €1,313 to €1,256, down 4.3%.
Advertised availability rose from 491 to 542 apartments.
What’s Driving These Trends?
The figures show what changed, but a two-month comparison cannot establish exactly why. Tourism, relocation, newly available homes, and seasonal demand may all influence advertised rents. Changes in which apartments were listed can also move an average, particularly in a smaller group of properties.
For example, the decline in Limassol’s three-bedroom average does not prove that larger homes are oversupplied. Likewise, Paphos’s rise does not mean every two-bedroom apartment there will command a higher rent. Location, condition, furnishing, and included amenities still matter.
These changes may also be seasonal. To judge whether a pattern persists, landlords and agents need to compare later periods and look closely at similar homes within the same area.
Implications for Stakeholders
Landlords can use the figures as a prompt to review competing listings. A city-wide average is a starting point; the most useful comparison is with apartments of similar size, condition, and location.
Investors should avoid treating two months of advertised rent changes as a rental yield forecast. Purchase price, occupancy, costs, and the rent achievable for a particular property all affect the calculation.
Tenants can use the breakdown to see where asking rents varied, then compare currently available homes. The October 2025 figures describe a past market snapshot, so current listings matter when making a decision.
Agents and property managers can be more precise in conversations with clients. “Rents rose everywhere” would misrepresent this period: the direction changed by city and apartment size.
Cyprus’s rental market does not move as one. Between August and October 2025, Paphos’s average increased while Limassol’s declined, and three-bedroom apartments followed a different path from two-bedroom units in some cities. At MLS RealtyHub, we see this as a reason to keep listing information current and make comparisons at the level that matters to the client: the individual property and its local alternatives.
Frequently asked questions
Which city recorded the largest increase in average standard apartment rent?
Paphos recorded the largest rise between 1 August and 1 October 2025: 4.8%, from €1,178 to €1,234.
Did average apartment rent fall anywhere during that period?
Yes. Limassol’s overall average fell 1.9%, largely alongside a decline in the three-bedroom apartment average. Its one- and two-bedroom averages still increased.
Do these figures show the rents tenants paid under signed leases?
No. They describe rental prices in the apartments covered by the market study. An individual lease may be agreed at a different price.