Scary Nicosia rents

1 min read

These are scary times for families living in rented accommodation in the capital, as rents for a two-bedroom flat average more than the national minimum wage.

Renting a two-bedroom flat of 80 to 90 square metres in Nicosia could set you back at least €800 a month, according to a Phileleftheros report.

Hiking rents and the increased cost of acquiring mortgages following an upward trend in interest rates, combined with an explosion in the cost of living, are the main obstacles a family in Cyprus has to confront.

According to Phileleftheros, there are few fully furnished apartments up for rent under €900.

Furthermore, most of these flats are over a few decades old.

A law introducing a national minimum wage of €940 comes into effect on 1 January.

Two-bedroom flats in Engomi, built in early 2000, are rented out for €800 to €850, while an unfurnished three-bedroom flat (135 sqm) in sought-after Dasoupoli, Strovolos, has a price tag of €800 per month.

In Pallouriotissa, where traditionally rents are lower, a three-bedroom flat, constructed in 1990, is rents for €750 a month.

The rent for a similar three-bedroom flat in Ayios Dhometios is €900, while a two-bedroom flat of 87 sqm in Strovolos costs €750 per month.

Owners of a three-bedroom apartment in Acropolis are asking for €800.

An apartment in Aglanjia rents for €875; in Ayioi Omoloyites, the rent for a two-bedroom flat is €750.

Two-bedroom apartments in central Nicosia are up for rent for €950.

A small 60 sqm one-bedroom apartment in generally cheaper Aglanjia can be rented for €600.

Two-bedroom apartments (77 sqm) in the suburb of Lakatamia go for €650/pa.

New two-bedroom apartments in Latsia, a southwest Nicosia suburb, are rented for between €750 and €900.