Nicosia rents favourable against other EU capitals

Eurostat recently published comparative rents, compiled with our contribution, for apartments and houses in the capitals of EU states, showing Nicosia has cheaper rents than most.

The data also indicates that Nicosia rents are rising more than other capitals.

Using Nicosia as the basis, it refers to the more popular housing areas and decent quality (not luxurious) apartments /houses of the average age up to 10 years old.

By comparison, Cyprus ranks quite well, as can be seen from the above tables:

• Rent levels bearing in mind Brussels ranks third after Ankara and Sofia.
• Rent trends for 2022/2021 are at par with Brussels but compare better to Budapest, Lisbon, Madrid, Ankara and London.
• Comparing areas for apartments 3, 2, and 1 bedroom, there is a slight difference,
• Rent value/ month, Cyprus fairs second after Ankara.

In comparison, Cyprus ranks not so well, regarding houses as apartments, as seen from the above tables.

Bearing in mind that Limassol, which has the highest rents, is not included.

• Rent levels in Nicosia are in 11th place in trends for 2022/2021.
• Rent value/ month, Cyprus places second after Ankara. Ignoring Ankara’s rent with the rest of the cities, Nicosia has the lowest rent of all the other capital cities.
• Comparing areas for houses [detached and semi-detached], there is a minor difference, which is on par with most of the cities in the table.

In conclusion, Cyprus compares well, concerning rents, compared with other capital cities.

Add the weather, beaches, hospitality, security, the widely spoken English language, the average cost of living, and digital accessibility through fibre optics connectivity and fast internet; Cyprus offers good living conditions for investment and quality of life.

By Antonis Loizos FRICS – Antonis Loizou & Associates Ltd. – Real Estate Appraisers, Real Estate Agents, and Real Estate Consultants