02.5 The Housing Market in Cyprus

The Housing Market in Cyprus

Renting in Cyprus

As a rule rental agreements in Cyprus are made out for a least 1 year, the extension of which is unproblematic. The incidental costs of water, electricity, heating and other services are normally not included in the rent.

Thanks to a wide range of construction projects in the last two years, the selection of rental properties available in Cyprus is excellent and includes everything from apartments, to houses, to large villas. The rent is primarily dependent on the location (suburb, city) and the degree to which the property is furnished.

Our Advice:
It is usual for landlords in Cyprus to request 1 month’s rent as a security deposit. However, it is NOT the norm to ask for 2 or even 3 months’ rent as a deposit – avoid property owner’s who do so! The rent is due at the beginning of each month. In most cases, renting an apartment is as simple as signing the rental agreement will suffice. We are happy to help you look for the ideal apartment or house for you and your family! Our legal experts will of course also look over the rental agreement before you sign it.

Average Rent (in Euros)
Larnaca and Surrounding Area (as of March 2016)

Incidental Rent Costs/Service Costs
(Water and Electricity, as of January 2017)

Cyprus Impressions

Buying Real Estate in Cyprus

Cyprus Real EstateWe advise against purchasing real estate as soon as you move to Cyprus. The housing market is complicated and real estate agencies will not necessarily supply you with reliable information regarding the price, location and condition of a property. The same goes for property developers.

Take some months to find your footing in Cyprus, become familiar with the most popular locations and get a feel for the local prices.

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