Cyprus student housing rents rise amid supply shortage

Student housing demand in Cyprus is significantly outstripping supply, leading to a sharp rise in rental prices. Marinos Kineyirou, chairman of the Council for the Registration of Real Estate Agents, reported that one-bedroom flat rents range from €600 to €900 in Nicosia, Larnaca, and Paphos, while reaching as high as €1,500 in Limassol. Three-bedroom flats are even more expensive, costing up to €1,700 in Nicosia and €2,700 in Limassol.

The shortage is driven by a 9.4 percent increase in higher education enrollment during the 2023-2024 academic year, totaling 57,889 students. Kineyirou noted that the difficulty lies in finding small, furnished, and functional flats at affordable prices near universities.

In response, academic institutions are working to expand dormitory capacity. Vasilis Protopapas of the Cyprus University of Technology (Tepak) stated the university aims to guarantee dormitory rooms for all newcomers and students in financial difficulty within one to two years. Additionally, Kleanthi Pissarides of the University of Cyprus announced plans to construct new dormitories with a capacity for approximately 900 new beds, with the first 500 expected to be available in three years through cooperation with the state.