Real estate rental market! - CYPRUS NEWS | Cyprus news

At the end of July, the country is expecting 3,624 apartments, 510 villas, and individual houses for rent. In July, the number of rental villas decreased by 27%, while the number of rental apartments increased by 1.4%. The decrease in numbers is a sign of activity. In Northern Cyprus, by the end of July, the number of rental residential properties decreased by 3.18%, and the number of rental commercial properties fell by 6.94%. Overall, there was a recorded decline of 3.54% across all categories of rental properties. After a gradual decline in the rental market from September to December 2021, it was surprising that there was an increase in January 2022, which continued into February, but a decline was observed again in March. Real estate market experts note that the downturn in the rental market indicates its activity.

The rental market for villas is actively moving.

In Northern Cyprus, there are at least 4,134 different rental statuses for apartments, houses, and villas.

GIRNE - FIRST, FAMAGUSTA - SECOND

According to the data, 53.62% of rental housing is located in the Girne area, 21.77% in Famagusta, 21.69% in Lefkoşa, 2.65% in Iskele, and 0.27% in Lefke and Güzelyurt. In July, the largest increase in the number of rental properties, specifically 12.33%, was recorded in Famagusta. In Famagusta, the number of apartments available for rent increased by 12.71% from 779 to 878 due to new listings and university students vacating their apartments for the holidays. In Girne, where there are over 550 rental properties, the rental numbers increased by 10.55%, while in Iskele, it decreased by 23.08%. Lefkoşa saw an increase of 6.90%.