Recently, there has been a significant increase in rental prices in Southern Cyprus. The challenges in student housing are making it difficult for students to find accommodation.
According to a report by Fileleftheros, the monthly rent for one-bedroom apartments in Nicosia ranges from 600 to 900 Euros, while in Limassol, this figure can go up to 1500 Euros. This situation reflects the high demand in the region.
The rent for two-bedroom apartments in Limassol reaches around 2000 Euros, while three-bedroom apartments can rise up to 2700 Euros. On the other hand, rental prices for one and two-bedroom homes in Larnaca and Paphos are close to those levels in Nicosia.
Another noteworthy point is that the rental price of three-bedroom apartments in Paphos is approximately 15-20% lower compared to South Nicosia. This makes the Paphos region an attractive alternative housing option.
A similar scenario is evident in the Paralimni area. Here, one-bedroom apartments are rented for 700 Euros, while two-bedroom apartments are approximately 900 Euros. All these developments are associated with the increase in the number of students pursuing higher education in Southern Cyprus, which has reached 57,889.
Cyprus University of Technology (TEPAK) is attempting to contribute to this issue by providing rental assistance to students, particularly in the Limassol and Paphos areas. Vasilis Protopapas noted that their dormitories in Paphos have a capacity of 180 beds and that they offer a monthly rental assistance of 250 Euros to students in need of financial support.
TEPAK’s annual budget for rental assistance is recorded to be around 800,000 Euros, and it has also been reported that a student dormitory owned by the Archdiocese in Limassol has a capacity of 300 beds.
Source: www.diyaloggazetesi.com
