The COVID-19 pandemic had an impact on Cypriot income – and consequently on the market. The trend of renting housing was not disregarded either: people had to reduce rental expenses, and landlords, accordingly, had to reduce their rates.

Polis Kourousides, the Vice-President of the Cyprus Association of Real Estate Appraisers, noted that the landlords really had to reduce the rates in order to avoid that their tenants would move to the housing more easily. The offer at the market has grown, rental conditions have become more attractive, and the choice is wide.

“In the next two years rental prices will fall lower than in early 2020”, – predicts Kourousides.