Student rental prices across Cyprus remain at elevated levels for yet another year, with Limassol standing out as the most expensive city and Larnaca and Paphos offering the most affordable options. According to Polys Koursidis, President of the Association of Property Valuers, steep demand and limited rental supply continue to drive prices up across all major university cities.

As Offsite reports, Koursidis emphasized that Limassol maintains the highest rental rates among all cities, with one-bedroom apartments starting at €1,100 and two-bedrooms at €1,900. These prices are largely attributed to the city’s coastal location and the high demand from foreign students attending the Cyprus University of Technology (CUT), located in the heart of Limassol.

In Nicosia, prices vary by area. In Engomi and Strovolos, one-bedroom flats start at €700–750, while two-bedrooms begin at around €1,000. In Aglantzia, which also hosts a large student population, prices are slightly lower, starting at €600–650 for one-bedroom apartments and €900 for two-bedrooms.

Larnaca and Paphos remain the most budget-friendly cities for student rentals, with one-bedroom flats starting at €600–650 and two-bedrooms at around €900. However, Koursidis noted that fewer students reside in these cities, resulting in lower demand. In Paphos specifically, there’s a limited supply of student-suitable apartments, as many landlords prefer short-term rentals for tourists or other tenants.

Koursidis pointed out that rising rent prices are driven by a combination of high demand—not just from students, but from the general population—and a persistently low supply of rental apartments. Additionally, landlords who offer newly built apartments often pass on a 19% VAT cost to tenants, further increasing monthly rents.

“Property owners aim to recover their investment quickly,” he said. “They set high prices to ensure profitability, especially given rising construction and maintenance costs.”

While the general rental market remains costly, university-managed student housing offers a much more affordable alternative.

At the University of Cyprus (UCY), dormitories offer 202 rooms priced at €120 or €140 per month, depending on amenities such as private bathrooms and kitchens. These rooms are allocated not only to Cypriot students who pass the national entrance exams but also to international students.

At CUT, the university operates three residential buildings in central Limassol, with a total capacity of 45 beds. Housing options include studios, one-bedroom, two-bedroom, and three-bedroom apartments, priced as follows:

• Studios: €450/month

• One-bedroom: €500/month

• Two-bedroom: €350/month per person

• Three-bedroom: €300/month per person

Prices include basic utilities and furnishings. Monthly rates remain fixed for the duration of the stay.

Additionally, CUT has partnered with the Apollonia student residence, owned by the Holy Archbishopric of Cyprus, providing up to 205 rooms for students. Of these, 195 are offered at subsidized rates based on socio-economic criteria, while 15 rooms are rented without subsidy, primarily to international students.