What are the housing and rental prices in Cyprus in 2023?

Housing expenses in Limassol

Housing expenses in Limassol, which is considered one of the most significant commercial centers and the second largest city in Cyprus, range from€2000to€5000per square meter. Meanwhile, property prices in smaller resort towns along the coast are significantly lower — their cost ranges from€1000to€3500per square meter.

Renting as an alternative option

For some people, purchasing their own property may be financially challenging; however, renting a home seems to be a more accessible option. The good news is that there are plenty of rental opportunities on the island.

Rental housing prices

The cost of rent can vary significantly depending on the region and the seasons, just like in most resort areas. For example, in Limassol itself, renting accommodation is considered the most expensive.

• Renting a one-bedroom apartment here can cost€400-450per month.
• In the peak season, the price can double or even triple.
• On average, in the country, individuals looking to rent housing in the central part of the city should expect a rental price of around€350per month.

The rental process

To rent an apartment, you won't need to put in much effort: just contact any licensed real estate agent in Cyprus. Tenants can rest easy, as the commission fees are paid by the landlord, not the person renting the property.

Utilities

Utility costs are usually paid separately from rent, and their amount can vary depending on the type of heating and the time of year. Using air conditioners in heating mode can help save a bit on electricity costs, but it can also lead to additional expenses.

• On average, utility bills come every two months.
• For small apartments, they can range from€45to€60.
• If measures to reduce expenses are not implemented, bills could increase by one and a half to two times.
• For houses with an area of about 100 square meters, utility costs can reach€150per month.

Buying real estate in Cyprus

In Cyprus, you can find attractive offers for purchasing property. For example, for an amount of€200,000It is possible to purchase a 100 m² apartment in Paphos with three bedrooms.

• This accommodation is located on the second floor and offers a beautiful view of the coastline.
• The complex where the apartment is located is designed for permanent residence and includes a closed indoor pool and a fitness center.
• Everything is furnished with furniture, new equipment, and air conditioning, and also offers parking spaces and storage rooms.

Special conditions for foreign citizens

For citizens of Germany and Israel, there are exclusive conditions when purchasing real estate. Also, for€572,000You can become the owner of a villa in Paphos with a total area of 183 m², which features three bedrooms and a plot of 255 m².

• This unique project stands out with its modern architectural design, which provides spacious and comfortable relaxation areas amidst greenery and picturesque sea views.
• The villa is located in close proximity to the beach and all major amenities, making it attractive for family living.

Amenities for villa residents

Villa owners can enjoy amenities such as a swimming pool, dedicated parking spaces, and a beautifully landscaped garden with thoughtful design. Just 500 meters away...

Apartment in Famagusta

nf group offers an apartment for sale in Famagusta, Cyprus, for176,873 €, with a total area of94 square metersThese are 4-room apartments located in a modern spa complex.100 metersfrom a beautiful sandy beach. Famagusta and Bafra promise excellent opportunities for relaxation, and these apartments are located on the front line, surrounded by a key tourist area in the northern part of Cyprus. This area is actively developing, becoming increasingly attractive to tourists. The spa complex offers a wealth of services for a comfortable stay.

Land plot in Limassol

The company Red Feniks has put a plot of land in Limassol up for sale at a price580,000 €The size of this plot is573 m²It is located in a promising area, not far from the Cirion Stadium. The plot has a rectangular shape and a flat surface, making it ideal for building your own home.

• It goes out to the main road.
• There are residential and commercial buildings in the area.
• All the main utilities are already connected.

Apartments in Paphos

Blue Sky Houses offers buyers interesting apartments in Paphos for€355,000, with a total area83 square metersand an open layout. The apartment has three bedrooms and two bathrooms, and there is an option for online viewing and remote purchase. Pafos offers quality housing in an elite project that includes seven apartments and is conveniently located in the Universal area.

• The infrastructure of the area is well developed.
• Availability of school
• The Elizia Park project features an indoor swimming pool and a gym.
• The beach is just a 15-minute walk away.

Villa in Kyrenia

For those considering the purchase of a villa in Cyprus, Mayalanya Group offers a unique residential opportunity at a price.450,800 €for a villa in Kyrenia with an area of229 m²This is a villa project with developed infrastructure, located in a picturesque area in Northern Cyprus. Kyrenia is a wonderful resort town, comfortably nestled at the foothills of the mountains and along the shores of the Mediterranean Sea, making it the perfect place for those seeking tranquility and solitude.

Complex in Esentepe

The complex in Esentepe from Mayalanya Group is offered at a price378,759 €with an area83 square metersThis property includes three bedrooms and two bathrooms, with the possibility of obtaining residency.

• A calm and protected area
• Fantastic beaches and essential amenities
• The construction of the complex will be completed by March.2025
• The proposal includes a large communal pool, a bar, as well as a video surveillance system for the safety of the residents.

Apartment in Limassol

Leverage Investments presents an apartment in Limassol, priced at595,000 €, with an area of146 m²This modern housing, featuring three bedrooms and four bathrooms, is part of a new complex located in the sought-after area of Mesa Getonia. The location is in close proximity to business centers and all necessary urban infrastructure.

Apartments with multiple bedrooms

The presented complex offers apartments with two and three bedrooms, with a total of six residential units available, distributed two on each floor.

Each residence is characterized by stylish design and a high level of comfort.

Proposals from Mercury Group

The Mercury Group has put apartments for sale in Paphos, Cyprus, with a total area of 115 m² priced at €260,000.

When purchasing these apartments, potential owners can obtain a residence permit.

The deal can be concluded remotely, and the new owners will have the opportunity to obtain permanent residency.

Three-room apartment in Chloraka

A three-room apartment is also available on the market in the Chlora area.

This place is located just five minutes from the city center, the coast, and the English school.

The area is well-developed in terms of infrastructure, and all necessary facilities, including shops, are within walking distance.

The specified apartment is located on the second floor with an elevator.

The interior space includes:

• open-plan kitchen,
• a cozy living room with access to the balcony,
• a bathroom and three bedrooms.

Elite apartments from ABC Cyprus Homes

ABC Cyprus Homes offers luxury apartments in a new project located in Anavargos, Paphos.

The price of these modern apartments is €310,000 for an area of 104 m².

These apartments come with all the necessary amenities, including eco-friendly solutions aimed at improving energy efficiency.

Photovoltaic panels have already been installed on the roof of the building, which is included in the cost, and they will help significantly reduce utility expenses.

Townhouse in Paphos

There is also a townhouse for sale in Paphos with an area of 90 m² priced at €190,000.

This property features three bedrooms and two bathrooms.

Anyone interested can take advantage of the online viewing and remote transaction processing, and payment in Russian currency is also possible.

This townhouse, offering picturesque views of the mountains, is located in the hills of Peyia, just five minutes from the best beaches of Coral Bay and essential infrastructure, including an English school situated only ten minutes away.

Townhouse layout

On the first floor of the townhouse, there are:

• open-plan kitchen,
• spacious living-dining room,
• separate toilet.

On the second floor, there are bedrooms and a bathroom.

The windows offer beautiful views of the mountainous landscapes and green surroundings.

One-bedroom and two-bedroom studios

Another offer from ABC Cyprus Homes includes one-bedroom and two-bedroom studios with an area of 94 m², priced at €340,000.

The mentioned apartments are located just a hundred meters from the sea and have high investment potential.

The object is also subject to obtaining a residence permit with the possibility of an expedited process and installment payments.

This residential complex is located in the famous coastal area of Kipsongerga, Paphos, and is a modern building surrounded by picturesque landscapes, with well-developed infrastructure and a traditional atmosphere.

Penthouse in Kyrenia

Finally, we invite you to consider a penthouse in Kyrenia, Cyprus, with an area of 97 m² priced at €230,000.

These apartments are located just a few minutes' walk from the sea and are perfect for those looking for accommodation in beautiful locations.

Kyrenia, located in Northern Cyprus, is one of the most sought-after areas to live due to its diverse international universities and five-star hotels.

The city is considered the tourist and educational capital of the island, making it an attractive place for real estate investment.

Real estate in Cyprus: a choice for living and vacationing

Cyprus is an amazing place where everyone can find suitable apartments for living or vacationing on this sunny island. Let's take a look at some offers that might interest you.

Apartments in Limassol

In Limassol, one of the most sought-after resorts in Cyprus, you can purchase comfortable 97 m² apartments for €450,000. These two-bedroom apartments offer the possibility of obtaining a residence permit upon purchase, making them attractive to foreign investors. Limassol is known for its picturesque beaches and a variety of cultural events, which attract many tourists and residents.

Modern apartments in Paphos

In Paphos, modern apartments with an area of 100 m² are offered for €342,400. This new residential complex, located in the rapidly developing area of Geroskipou, stands out with its modern architectural style and high-quality interior finishes. The complex consists of five buildings, featuring apartments with one, two, and three bedrooms, creating a cozy living space.

Options in Alsancak

Thinking about other options, in Alsancak you can find a 50 m² one-bedroom apartment for just €123,189. This new project is located just ten kilometers from Kyrenia, in the picturesque village of Alsancak. The area is known for its traditional atmosphere, and the magnificent rocky shores and clean beaches make it ideal for permanent living or vacationing.

Apartments in Kyrenia

In Kyrenia, you can also consider purchasing a three-room apartment with an area of 75 m² for €151,000. These apartments come with a private garden or a rooftop terrace and are located in a prestigious area of Girne, Northern Cyprus. The completion of this complex is scheduled for October 2025. Interested buyers can make a down payment of 35% and pay off the remaining amount gradually.

Project in Famagusta

A new project is launching in the Yenibogazici area of Famagusta, offering small apartments of 45 m² for €113,071. The convenient location, just two minutes from the beach and close to a park, makes these apartments particularly attractive for living. It takes only ten minutes to reach the city center and one of the leading universities in the country – Eastern Mediterranean University (EMU).

Exclusive apartments in Limassol

In Limassol, exclusive apartments of 111 m² are also available for €490,000. These apartments are located in the well-known Agia Zoni area and stand out for their quality construction and modern amenities, such as underfloor heating and built-in air conditioning. It's also worth mentioning their proximity to famous spots, including Makarios Avenue and the Molos promenade, making them ideal for those who want to be at the heart of urban life.

Charming apartments in Paphos

Among the latest offerings is an attractive two-bedroom, one-bathroom apartment in Paphos, available for €265,000. The apartment is located in a quiet residential area, making it suitable for both permanent living and a peaceful getaway away from the hustle and bustle.

Results

Cyprusoffers a multitude of amazing opportunities forinvestors...as well as for those who want a change of scenery, and everyone will be able to find something to their liking here!

Unique location

This magnificent location offers easy access to the municipal sandy beach, a picturesque harbor, shopping centers with a variety of goods, and a vibrant nightlife. All the properties offered here are surrounded by the luxurious Blue Sky Houses. More than 8,312 similar listings are waiting for you.

Culinary traditions of Cyprus

Speaking of the gastronomic culture of the island, it is worth noting that Cypriot cuisine has organically absorbed Mediterranean traditions, yet it has its own unique features. The main influencing factors have been Greek and Turkish cuisines. If you are a true connoisseur of culinary art and prefer rich dishes, then during your stay in Cyprus, you will definitely appreciate the local delicacies.

Premium-class restaurants

The island features premium-class restaurants where you will be offered to try:

• Duck with honey and pepper for the amount of €24
• Beef fondue for €59 for two people
• Fried veal priced at €24

Don't forget to try the original desserts starting from €10. However, you will also be able to enjoy a meal in more modest establishments that will offer you equally delicious but more affordable dishes, making your dining experience not only satisfying but also budget-friendly.

Prices for lunches in cafes

Most of these cafes allow you to have lunch for two by choosing a main dish, salad, dessert, and drinks for a price range of €25 to €50.

Prices for groceries in supermarkets in Cyprus

In supermarkets in Cyprus, the prices of basic food products can vary significantly depending on the quality of the items and where they are purchased. For example, the price of milk ranges from 1 to 1.80 euros, while a 500-gram loaf of white bread will cost you approximately between 0.70 and 2 euros.

Rice also comes in different price categories — buying one kilogram costs between 1 and 2.40 euros. A pack of 12 eggs can be found for prices ranging from 1.50 to 3 euros.

• Local cheese:5-10 euros per kilogram
• Chicken breast:4.50-9 euros per kilogram
• Beef:6-10 euros per kilogram

Fruits and vegetables

Fruits also have different price ranges.

• Apples:from 1 to 2.20 euros
• Bananas:from 1 to 2 euros
• Oranges:from 0.90 to 1.80 euros

Vegetables also come in a variety of price categories.

• Tomatoes:from 0.80 to 2 euros per kilogram
• Potato:from 0.45 to 1 euro
• Onion:from 1 to 3 euros
• Lettuce leaves:0.40 euros per cabbage

Drinks and tobacco products

As for bottled water, a 1.5-liter bottle costs between 0.40 and 1 euro. Local wine produced at the island's wineries is offered at prices ranging from 4 to 7 euros, while a 0.5-liter bottle of local beer costs between 0.65 and 1.50 euros. Cigarette prices range from 3 to 5 euros per pack.

Transportation costs in Cyprus

Speaking of transportation costs, it's worth noting that public transport in Cyprus is not very well developed. However, you can make use of buses, taxis, rented cars, or motorcycles.

Buses are the most popular choice among tourists, and if you decide to use them, you can find the schedule at the stops. The frequency of services is quite high, so you won't have to wait long. The cost of a single ride is 1.50 euros, and at night, the fare doubles. You can pay either when you board or in advance by purchasing a ticket at the bus station.

Children under 6 years old can use buses for free. If you plan to use public transport frequently, it would be more cost-effective to purchase a travel pass:

• For the day:5 euros
• For a week:20 euros
• For a month:40 euros

Taxi and vehicle rental

Taxis in Cyprus are quite an expensive means of transportation. The daytime fare is about 3.50 euros for the initial charge and 0.73 euros for each kilometer, while at night the initial charge increases to 4.30 euros and the cost per kilometer rises to 0.85 euros.

For speed enthusiasts, there is an option to rent a motorcycle or scooter — prices start at 30 euros per day for a motorcycle and from 12 to 20 euros for a scooter.

Rent a car

Renting a car is considered the most convenient way to get around the island. You can book a car in advance online or rent one on-site. Typically, the rental cost depends on the class of the vehicle, the rental period, and the type of transmission.

It's important to note that rental prices start at 15 euros per day, and they can significantly increase during the high season. If you want to be mobile and move freely around Cyprus, it's worth considering buying your own car. Locals often prefer this mode of transportation. The average price of gasoline is about 1.20 euros per liter.

Clothing expenses

When it comes to clothing expenses, Cyprus is not considered an ideal place for budget shopping. Although there are many global brands available, their prices are often comparable to those found in local stores.

Seasonal Sales: How to Save Money

There is an excellent method to significantly reduce your expenses while shopping, and that is participating in seasonal sales, during which discounts are offered ranging from50% to 70%Winter sales begin in early February and last for about 45 days, while summer sales start on July 15 and also last for 45 days. Additionally, at the beginning of autumn, you can find leftover summer sales, which also presents a good opportunity for profitable purchases. If you see a sign saying "sale" in the store window, it means that discounts may apply to the entire range of products available in the store.

Essential items for travel

As for the minimal wardrobe for travelers, classic Levi's jeans or similar models from other brands in Cyprus start at40 to 80 eurosA summer t-shirt will cost you on average10 euros, and the swimsuit — about in20 eurosThe prices for summer dresses range between25 and 45 eurosSports sneakers from well-known brands usually cost from45 to 100 euros...while classic leather shoes will cost from...40 to 150 eurosYou can also purchase a women's leather handbag for40-50 euros.

The best shopping places in Cyprus

When talking about the best shopping places in Cyprus, it's impossible not to mention some shopping malls:

• The Mall of CyprusIn the capital Nicosia, it is one of the largest shopping complexes on the island.
• MyMallIn Limassol, there is a real outlet with hundreds of stores.
• CityShopIn Paphos — the largest in the city.
• Kings Avenue Mall— one of the largest on the island.
• Mall of Engomi— a shopping center that features boutique stores of well-known brands.

Additional expenses

When it comes to additional expenses, it's hard to imagine life without mobile communication these days. The main expense becomes the costs of communication. A minute of conversation with local operators costs about10 euro centsUnlimited internet through a mobile operator will cost you on average from30 to 35 eurosper month.

Entertainment and excursions

We should not forget about the various entertainment events and excursions that are especially popular in Cyprus during the summer. This season attracts the attention of stars from the Russian, Greek, and British show business, who often visit the island. Tickets for concerts cost around20-25 eurosinstead of a table. For movie lovers, a ticket to the cinema costs on average6-8 eurosdepending on the time of day.

Popular excursions in Cyprus

Among the popular excursion trips in Cyprus, the following can be highlighted:

• Sea excursions
• Safari
• Gastronomic and entertainment tours
• Sightseeing tours

The prices for excursions vary within20-300 eurosDepending on the length and complexity of the route. For example:

• A sightseeing tour of the island —60 euros.
• A trip to the city of Famagusta —55 euros.
• Visiting the Akamas Nature Reserve —55 euros.
• The "Ancient Cyprus" tour —40 euros.
• Wine tour —60 euros.
• Pilgrimage tour of the monasteries —40 euros.
• Visiting the Kavo Greko Nature Reserve —63 euros.

Historical landmarks

Don't forget about the magnificent historical monuments of Cyprus, which require some expenses to visit. The average ticket price for a museum ranges from4 to 5 eurosthat makes cultural leisure accessible to a wide audience.

Conclusion

In conclusion, buying or renting a home in Cyprus is an important and responsible step that requires careful analysis and understanding of the market. Average prices for residential real estate vary depending on location and season, which can significantly impact your budget. This is especially true for Limassol, where real estate offerings can be quite substantial in cost for both purchase and rental. Particularly during peak seasons, when prices can increase dramatically, it is important to be prepared for this.

Rentals and purchases

Renting accommodation in Cyprus, as I found out, is becoming a more affordable alternative, especially if you are looking for housing in less major resort towns. Rental options are multiplying, and licensed realtors ensure a comfortable process for selecting and finalizing a deal. Additionally, the absence of extra fees paid to the realtor makes the rental process more convenient and preferable.

Utilities

UtilitiesIt is also important not to forget, as they can become a significant expense, especially during the winter months when heating can greatly increase bills. I recommend planning these expenses in advance and monitoring your consumption to optimize your budget.

Real estate investments

Don't overlook the investment opportunities in real estate that Cyprus offers. Attractive deals, especially for those looking to obtain residency through purchase, can be a great opportunity for the future. In recent years, the real estate market has shown good growth prospects, and in this context, Cyprus represents an interesting option for long-term investments.

Recommendations

Having studied all the factors affecting the cost of housing in Cyprus, I have come to the conclusion that:

• The right approach and careful planning will help you make a choice that aligns with your expectations and capabilities.
• Be attentive to details and keep an eye on seasonal price fluctuations.
• Plan your utility expenses in advance to optimize your budget.
• Explore investment opportunities, especially if you are interested in obtaining residency.

May your conclusion about housing in Cyprus always be positive!