Student housing demand outpaces supply as rents rise across Cyprus
Monthly rents for one-bedroom student flats range from €600 to €1,500 as enrolments grow and housing supply remains limited.
Nicosia, Cyprus. Demand for student housing is exceeding supply across Cyprus, with monthly rents for one-bedroom flats ranging from €600 to €1,500, according to Marinos Kineyirou, chairman of the Council for the Registration of Real Estate Agents.
Rent levels by city
Kineyirou said one-bedroom flats in Nicosia, Larnaca and Paphos rent for between €600 and €900 per month. In Limassol, rents can reach €1,500, while in Paralimni they can rise to €700.
Three-bedroom flats rent for up to €1,700 per month in Nicosia and €2,700 in Limassol. Rents in Larnaca and Paphos are around 20 per cent lower than in Nicosia, while prices in Paralimni start at €900.
Growing student population
Nicosia has the largest student housing market, while Limassol records the highest rental prices, Kineyirou said.
He linked the increased demand to a rising number of university enrolments and said accommodation supply had not kept pace. Statistical Service data showed that 57,889 students were enrolled in higher education during the 2023-2024 academic year, a 9.4 per cent increase from the previous year.
Limited affordable options
In Limassol, around 700 applications for student accommodation are submitted each year, but fewer places are available, Kineyirou said.
He said high demand and limited supply were driving rents higher and reducing options for students unable to afford increased prices. The main challenge, he added, was finding small, furnished and functional flats near universities at affordable prices.
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