How Much Is A Month Of Renting A Three-Bedroom Apartment In Different Regions Of Cyprus

The cost of renting an apartment varies according to the region of the country. The Republic of Cyprus is situated in the southern part of the island of the same name in the Mediterranean Sea. The country is divided into six regions: Limassol, Famagusta, Nicosia, Paphos, La aca and Kyrenia.

Popular destinations for foreigners are Ayia Napa, Paphos and Limassol. Tourists rent hotel rooms, villas or apartments in the towns and villages where they vacation.

The cost of renting an apartment varies depending on the region of the country. The most expensive options for renting accommodation are in the resort town of Ayia Napa and the center of Limassol. The table below shows rental prices for apartments in major cities of Cyprus.

Data source ― Numbeo.com

For residency status in Cyprus to move to a European country with a developed economy, good environment and a warm climate. Investors with a residence permit in Cyprus have the right to live, do business and study in the country as locals.

Which countries will be part of the Schengen area in 2021

After 5 years, residents are entitled to apply for Cyprus citizenship. A Cypriot passport gives freedom of movement to 176 countries around the world, including Schengen states, the UK and Hong Kong.

For holidays and property rentals. Cyprus is visited by around 3‑4 million tourists every year since 2016. Therefore, the demand for rental properties is high. In 2020, entry to the country was restricted due to the coronavirus pandemic. Cyprus opened to most tourists in the spring of 2021.

Russians can fly to the island by direct flight from Moscow. To enter the country, Russians need a visa, which can be obtained free of charge through a simplified procedure online, and two tests for coronavirus with a negative result. If a certificate of vaccination is shown on arrival, a second test at the airport will not be necessary.

Wealthy people prefer to own their own home in Cyprus, so they can come and holiday on the island whenever they want. Some investors buy property, rent it out and earn extra income.

Examples of properties in Cyprus

Cyprus, Limassol

€695,000+

Apartments in a residential complex near the sea

78 m²

2

1

Cyprus, Limassol

€419,000 — €519,000

Apartments in a unique closed residential eco-project

96 m² — 127 m²

2—3

2—3

Cyprus, Limassol

€1,060,000+

Apartment in a luxury residence with guaranteed return

110 m² — 111 m²

1

1

Cyprus grants a permanent residence permit for the purchase of residential or commercial property, a contribution to a local business or an investment fund.

Under the commercial real estate option, the investor can also purchase one or more properties with a total value starting from €300,000. The properties can be purchased either in the primary or secondary property market.

The investor must have a domicile address in Cyprus in order to become a resident. A document of proof, such as a contract of sale, must be attached to the application for residency.

Immigrant Invest property experts advise against putting off the purchase until the end of 2021. As long as demand and prices remain relatively low, more properties at an attractive price are available to investors.

Immigrant Invest helps you get a permanent residence in Cyprus by investment. If you want to buy property in Cyprus and become a resident of an EU member state, seek advice from the experts in the investment programmes.