There is increased demand of student houses especially at the beginning of the academic year as a result of the expansion of the student community and limited availability of organised student residences, President of the Council for Registration of Real Estate Agents Marinos Kineyirou told the Cyprus News Agency.
The rental prices of a one-bedroom apartment in Nicosia vary between pound 600 to pound 900, in Limassol the prices reach up to pound 1,500, in Larnaca and Paphos are approximately the same as those in Nicosia, while in Paralimni, they do not exceed pound 700, he noted.
On his part the Head of Student Welfare Service at the Cyprus University of Technology Vasilis Protopas said that the goal is for all first-year students with financial issues, to have a room and this will become a reality in one or two years with the completion of CUT’s dormitories.
There are plans to build other dormitories with a total capacity of approximately 900 new beds, and, with the cooperation of the State, the first 500 are expected to be available in three years, said Kleanthis Pissarides, head of the Studies and Student Welfare Service of the University of Cyprus.
Increasing demand
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Demand is constantly increasing, especially at the beginning of each academic year, Kineyirou told CNA. He said that Nicosia is the largest student market in the country while Limassol has the highest prices.
”This is because many foreign workers and many businesses are looking for rent. There is increased demand in Larnaca and Paphos as well”, he said.
He said that figures from the statistical service show that enrollments in higher education amounted to 57,889 during the academic year 2023-2024, recording an increase of 9.4% compared to the previous year,. He added that in Limassol, approximately 700 applications for student housing are submitted annually, while the available places in organized residences remain significantly fewer.
He said that the prices in Limassol for a two-bedroom apartment could reach pound 2,000 and for a three-bedroom apartment, the price reaches up to pound 2,700. Kineyirou said that for Larnaka and Paphos a three-bedroom apartment can go for about 15%-20% lower than in Nicosia.
He explained that students in searching for an apartment compete with workers, familes and others who come to Cyprus for work. ”This keep the prices high”, he said.
Things are better this year at the Cyprus University of Technology
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This year things are better in terms of housing as we took decisions for the construction of dormitories and for a rental allowance, Head of the Studies and Student Welfare Service of CUT, Vasilis Protopapas, told CNA.
He said that in Paphos, where the University has a branch, there is the student dormitory of the Municipality of Paphos next to the University and a large number of students find accomodation there.
He added that they also have some apartments that are also owned by the Municipality of Paphos, in the city center and students can be placed there as well. He explained that if there are students who have financial difficulties but cannot find rooms in the dormitory, they provide a rental allowance of 250 euros per month for 10 months, from September to June.
The budget for rent allowance purposes is 800,000 euros per year, he said.
He said that in Limassol the Archdiocese dormitory provides for 300 beds and 200 of them are alocated to students. Protopapas said that the majority of the university’s students are from other cities, and that only 35% of the university’s students are from Limassol.
The rent prices are based on income criteria and are 350 euros for Paphos and Limassol. The price for students who don’t have any financial difficulties is 500 to 550 euros. The prices include all expenses such as electricity, water, internet and cleaning.
He said that next year the University will have a campus in Larnaka and the plan is to provide a social rent as well.
University of Cyprus and construction of dorms
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The University of Cyprus student dormitories have 208 rooms which are distributed on the basis of socio-economic criteria, Head of the University Studies and Student Welfare Service, Kleanthis Pissarides, told CNA.
He noted that there are various prices and different rooms, and that the rent is approximately 150 euros per month, including utility bills such as electricity and water.
He added that the plans include the construction of additional dormitories with a capacity of approximately 900 new beds. Pissarides explained that they are waiting for some approvals by the state in order to proceed with their plans, adding that they expect to have the first available homes in about three years.
Replying to a question he said that they provide assistance to students in searching for an apartment or other accomodation near the university.