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Property

Housing: How Cyprus fares compared to rest of Europe

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At the end of last year Eurostat published comparative rents, with our own contribution, for apartments and houses in the capitals of various countries in Europe.

The following refers to the more popular housing areas and good quality, though not luxury, apartments and houses of an average age of up to 10 years old.

Apartments:

table 1

By comparison Cyprus ranks quite well as can be seen from the above table:

  • Nicosia ranks third in rent levels after Ankara and Sofia
  • Rent trends for 2022/2021 are on par with Brussels and better compared to Budapest, Lisbon, Madrid, Ankara and London
  • Comparing areas for apartments there is very little difference
  • Nicosia comes second after Ankara in rent value/month

Houses:

table 2

Cyprus does not rank so well regarding houses compared to apartments, as can be seen from the above table. Bear in mind that Limassol which has the highest rents, estimated at approximately 20 per cent more than Nicosia, is not included.

  • Rent levels see Nicosia in eleventh place in trends for 2022/2021
  • Cyprus places second after Ankara for rent value/month. Aside from Ankara, Nicosia has the lowest rent
  • Comparing areas for houses there is very little difference

In conclusion Cyprus compares well with regard to rents compared with other cities. Add the weather, beaches, hospitality, security, the widely spoken English language, the average cost of living, and good internet coverage, Cyprus offers good living conditions for investment and other.

 

Antonis Loizou & Associates EPE – Real Estate Appraisers & Development Project Managers, www.aloizou.com.cy, [email protected]

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