Soaring Student Rent Prices Prevail Across Cyprus
Student housing in Cyprus is experiencing a significant crunch, particularly a shortage of dormitories and escalating rental prices, especially in the cities of Nicosia, Limassol, and Paphos. The high demand for accommodation is due to the presence of universities in these cities.
Key Statistics
- The University of Cyprus in Nicosia offers 208 dorm rooms, primarily for first-year students.
- TEPAK in Limassol provides 250 rooms, with an additional 250 beds offered by the Archdiocese.
- In Paphos, TEPAK has 150 spaces available.
- Rental prices for student accommodations have reached record highs, with single rooms costing around €350 per month, and private one-bedroom apartments costing up to €800 per month, excluding utilities.
Current Challenges
The high demand for student housing and the limited supply of affordable options have led to soaring rental prices. Despite the adaptability shown by Nicosia's rental market in offering student-targeted options, the current situation continues to pose challenges for students seeking accommodation in Cyprus.
Future Initiatives
Several steps are being taken to address the housing shortage:
- New Dormitories in Limassol and Nicosia: The construction of new dormitories is expected to alleviate the shortage, with the first 300 new rooms in Limassol scheduled to be ready by October 2026.
- Cyprus University of Technology (CUT) Expansion: CUT plans to build affordable student housing and upgrade campus facilities in Paphos and Limassol, aiming to provide more than 700 new student residences.
- Adaptation of Rental Markets: Despite rising demand, Nicosia's rental market has shown adaptability by offering a variety of student-targeted options, which helps maintain a balance in prices.
Supportive Measures
In Paphos, a cooperation agreement between the Municipality of Paphos and CUT provides 150 studios, with 100 subsidised at €350 per month. In Limassol, the Facebook page "CUT Private Apartments Network" was launched to map available apartments and help students find flatmates.
Student unions in cooperation with the University of Cyprus's Housing Office are trying to secure discounted beds in private dorms for students meeting certain criteria. New apartment buildings under construction close to the university in Nicosia will offer 350 additional studios and one-bedroom units.
Ongoing Projects
Construction of new dormitories in Nicosia and Limassol by public universities is underway, but there are concerns about delays in their completion. In Limassol, a subsidised dorm room costs €350 per month. An additional 250 beds in Limassol are operated by the Archbishopric, some of which are available to students from the private Frederick University.
Rising Rental Prices
The Cyprus News Agency and the Pancyprian Federation of Student Unions (POFEN) have reported a surge in student apartment prices across Cypriot cities. In Limassol, current one-bedroom apartment rents range from €600-€880, two-bedroom apartment rents range from €1,100-€1,300, and three-bedroom apartment rents range from €1,300-€1,500. In Paphos, one-bedroom apartment rents range from €600-€700, two-bedroom apartment rents range from €750-€1,000, and three-bedroom apartment rents range from €1,100-€1,500.
POFEN President Konstantinos Karseras stated that the supply of apartments in Limassol remains lower than demand, especially after the pandemic. Near the University of Cyprus in Aglantzia, rents in Nicosia are: one-bedroom apartments €500-€700, studios €500-€650, and two-bedroom apartments €650-€750.
These efforts aim to increase the availability of student housing, but the current high demand and limited supply continue to pose challenges for students seeking accommodation in Cyprus.
