Student housing demand in Cyprus outpaces supply, driving rents up significantly
The demand for student housing in Cyprus is exceeding supply, resulting in rising rents for one-bedroom flats ranging from €600 to €1,500 monthly, according to Marinos Kineyirou, chairman of the Council for the Registration of Real Estate Agents. Nicosia, with the largest student housing market, sees rents for one-bedroom flats between €600 and €900, while Limassol records the highest rents, reaching up to €1,500. For three-bedroom flats, rents can be as high as €2,700 in Limassol.
This surge in demand is driven by a 9.4% increase in higher education student enrollment, totaling nearly 58,000 students in the 2023-2024 academic year. However, the availability of affordable, small, furnished flats near universities remains limited, pushing prices up and reducing options for students on tight budgets.
Both Cyprus University of Technology and the University of Cyprus are working to address this issue. Tepak aims to guarantee dormitory rooms for all new and financially disadvantaged students within the next one to two years, while the University of Cyprus is planning to expand its dormitory capacity with 900 additional rooms expected over the next three years. In the meantime, rent subsidies and support services are provided to help students secure accommodation.
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