Rental prices have climbed steeply, especially in the heart of Limassol and Nicosia because of heightened interest by investors and retailers seeking new venues.
According to a recent survey by Phileleftheros newspaper s rental prices vary, depending on factors such as area and size. In some cases a month’s rent for a luxury office in Limassol can be as high as €18,450 and €12,800 in Nicosia.
According Phileleftheros, a 1,000 m² office in Strovolos, built in 2000, is available for €12,000 per month. A 500 m² office in Nicosia city centre, built in 2003, is available for €7,000 per month and a 510 m² office in Engomi, built in 2004, is available for €6,120 per month.
However, rental fees are even higher in Limassol, when compared to Nicosia. For instance, a 403 m² office in the centre of town is available for €18,540 per month.
It is to be noted that there is a great difference in rental prices between Limassol/ Nicosia and Larnaca, as a 375 m² office, situated in Larnaca’s city centre, is available for €2,000 per month.