Average monthly rent in Paphos are €467 for an apartment and €677 for a house

Cyprus Property Price Index - rental prices

RICS (the Royal Institution of Chartered Surveyors) has launched the first Cyprus property price index, in attempt to turn Cyprus real estate market more transparent.

The RICS PPI is based on valuations of sample properties carried out by surveyors in various areas of five urban centres in the island’s government-controlled area.  This index will be published quarterly and will monitor prices fluctuations in residential properties, offices, high street retail and warehouses.

The first published index will become a benchmark for all the future prices and rental levels.

 

According to the first RICS PPI, the highest prices for high street retail, offices, and warehouses are recorded in the bigger urban centres of Nicosia and Limassol. Prices for houses and apartments spread quite evenly through the island. Average price for apartments is €1,865 per square meter for apartments for houses €2,001 per sq. m. Excluding tourist areas and areas of special value, most of homes for locals are evenly priced.

 

Rental prices differ between Nicosia and coastal cities. Office and houses rents in Limassol are higher by 68% and 13% respectively. It could be explained by presence of overseas companies in this coastal city. Presence of the port justifies 78% higher rents for the warehouses.  

 

According to the property Price Index, average monthly rent in Paphos are € 467 for an apartment, € 677 for a house,€ 2,383 for retail spaces, € 6,500 for warehouses and € 1,800 for offices.

Average unit price

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