Marinos Kineyirou, President of the Council for Registration of Real Estate Agents Cyprus, suggests that short-term rentals offered through platforms like Airbnb are significantly reducing the availability of apartments, which is a major factor behind the rise in rental prices. This situation makes it difficult for students to find affordable housing.

Speaking to CNA, Kineyirou stated that the government should consider restricting or even ending this practice to address the issue.

As the new academic year approaches, Kineyirou discussed the student housing challenge with CNA, noting that the limited availability of student halls in Cyprus forces students to seek rental flats, where prices have become excessively high.

Kineyirou emphasized that the restricted supply of flats is driving the increase in rents, largely due to the growing number of short-term rentals, which have taken a portion of the available apartments off the market.

He provided data showing that Limassol has the highest rents for both single-room and double-room apartments. The housing market in Limassol is impacted not only by tourism but also by the influx of foreign workers due to the arrival of ICT firms.

In Limassol, rents for single-room flats range from €1,000 to €1,100, far higher than in Nicosia, where rents are €600 to €700 per month. In Larnaca and Paphos, single-room rents range from €500 to €600, Kineyirou added.

For double-room apartments, Limassol again leads with rents between €1,400 and €1,500, followed by Nicosia at €800 to €900. In Larnaca and Paphos, double-room rents range from €700 to €800 per month.

Kineyirou urged the government to seriously consider limiting or halting short-term or daily rentals to prevent the ongoing shortage of apartments for long-term renters and the organized tourist complexes.

He also expressed concern that currently, almost anyone can convert their apartment into tourist accommodation, raising questions about the oversight of town planning zones and licensing.