The Rental Report: What’s Happening with Standard Apartments for Rent in Cyprus?
If you’ve been scanning listings lately, you’ve probably noticed the same pattern: some flats disappear within days, others sit for weeks, and asking prices don’t always make immediate sense. A recent study by Perprice helps explain why the market can feel uneven from one street to the next.
The period of study was from August 1st 2025 to October 1st 2025. Here’s what stands out and what it means if you’re renting, letting, or simply keeping an eye on apartments for rent in Cyprus.
1) The market is moving, just not in one direction
Across the four popular cities in Cyprus (Nicosia, Larnaca, Paphos, Limassol), the overall picture is gentle growth, with one clear exception: three-bedroom flats in Limassol and Larnaca dipped between August & September 2025.
That mix alone tells you something useful. Demand isn’t “up” or “down” in a tidy way. It’s shifting between sizes and locations.
2) Limassol: still the priciest, but the pressure sits in two-beds
Limassol remains the highest-cost city on average, even though its overall average rent fell by about 1.9% over the period.
What’s more revealing is the split by apartment size:
- One-bed and two-bed rents edged upwards (two-beds by around 2%).
- Three-bed rents fell sharply, by roughly 7.7%.
Why does this matter to a renter? Because it nudges the “best value” conversation into a different place. Many people assume that moving up in size always means paying a steep premium. In Limassol, the two-bed category looks like the most competitive right now, while some three-beds may face price resistance, especially if they’re dated or poorly located.
If you’re browsing Cyprus real estates with a view to renting in Limassol, don’t dismiss three-beds automatically. They may offer negotiating room that wasn’t there earlier in the summer, particularly for tenants who can commit to a longer lease.
3) Nicosia: steady rents, but one-beds feel tighter
Nicosia’s average rent moved up modestly, about 1.4% overall.
Still, the headline figure doesn’t capture the lived experience of searching. The number of one-bedroom listings fell, while two- and three-bedroom availability rose slightly.
That shift affects the pace of the market. When one-beds thin out, the better-priced options attract quicker decisions. For tenants, it becomes less about “finding the perfect flat” and more about recognising a fair listing when it appears. For landlords, it’s a reminder that smaller units often compete on speed and convenience, not just on the monthly rent.
4) Paphos: fewer listings, stronger upward momentum
Paphos recorded the strongest overall rise, around 4.8% on average.
At the same time, listings dropped across all sizes, which often tightens the market in a very practical way: fewer comparable options means less room for tenants to shop around.
The size pattern also matters here. Two-bedroom rents rose noticeably (about 7.2%), while one-beds dipped slightly.
So if you’re renting solo in Paphos, you may still find sensible options, especially by staying flexible on exact neighbourhood and finish. If you need two bedrooms, expect sharper competition.
For readers following real estate in Cyprus, Paphos is a good example of how supply can shape sentiment. When choice shrinks, the market can feel “hot” even if not every segment is surging.
5) Larnaca: more choice in smaller flats, softer three-beds
Larnaca barely moved on the overall average (about +0.1%).
Behind that calm surface, the study shows two different tracks:
- One- and two-bed rents rose gently (two-beds by around 2.4%).
- Three-bed rents fell by about 4.3%.
Listings rose for one- and two-beds, while three-beds dipped slightly.
That combination suggests a market where tenants get a bit more choice in the smaller brackets, while landlords of larger flats may need to compete harder on condition, parking, furnishings, or clear maintenance commitments.
A quick reality check on supply:
Even with seasonal shifts, the distribution of available standard apartments tells its own story. Limassol has by far the largest pool of listings, followed by Nicosia, with Larnaca and Paphos much smaller.
This is one reason renters often describe Paphos as “limited” and Limassol as “competitive”. In smaller markets, a handful of new listings can change the tone overnight.
Also Read: Renting in Cyprus: Tenant’s Rights, Lease Agreements & Cost of Living Breakdown
Practical takeaways if you’re renting now
A few grounded moves help in any of the four cities:
- Treat asking rents as a starting point, not a verdict. The study shows clear segments where prices softened, especially in some three-beds.
- Move quickly when supply is tight. This tends to apply to one-beds in Nicosia and two-beds in Limassol and Paphos.
- Compare like with like. A “standard” flat can still vary wildly in age, insulation, parking, and shared building costs.
What it signals for the months ahead
This slice of the year points to a rental market that remains active, but selective. Some segments still climb, and others meet a ceiling and adjust. For anyone tracking Cyprus properties more broadly, standard apartments remain a reliable indicator because they reflect ordinary household choices, not just headline-grabbing luxury demand.
The bottom line: Cyprus isn’t one rental story. It’s four cities, several sub-markets, and a steady tug-of-war between what tenants can pay and what landlords think the market will bear.
Ready to make sense of Cyprus rental prices and act fast on the right listing (or tenant)? Browse apartments and get tailored guidance from Chris Michael Property Group at chris-michael.com.cy or call +357 25313135 to speak with an expert today.
