Limassol two-bedroom rents can consume 91% of average salary

Limassol, Cyprus. Renting a two-bedroom flat in Limassol can consume as much as 91 per cent of an average salary, highlighting rising housing costs in Cyprus and a widening gap with Greece, where rents and property prices remain considerably lower.

Earnings shape housing affordability

Lower housing prices do not necessarily mean greater affordability. Average salaries in Cyprus are around 54 per cent higher than in Greece, changing the comparison of rental and purchase costs when earnings are taken into account.

For Cypriot families paying for student accommodation in Athens or Thessaloniki, Greece can offer substantial savings. However, for people living and working there, rising rents and lower wages are making even modest homes increasingly difficult to afford.

Competition grows for cheaper properties in Greece

New figures from Greek property platform Spitogatos show that tenants and buyers are increasingly focusing their searches on the lower end of the market, where competition is particularly strong.

In Athens’ northern suburbs, rental properties advertised for less than €600 a month attracted an average of 21.1 direct expressions of interest and almost 282 searches per property during the first eight months of 2026.

In the Dodecanese, properties in the same price range received an average of 22.4 expressions of interest.

Prospective buyers across Greece focused much of their attention on homes priced at up to €250,000, according to the latest property market figures.

Rents rise across Greece

The pressure is also pushing rents higher. Figures from REMAX Greece covering 124 areas showed that rents agreed through its network increased by an average of 3.8 per cent in 2026.

The increases were 4.3 per cent in Attica, 3 per cent in Thessaloniki and 4 per cent elsewhere.