News Local Rental prices skyrocket in Limassol and Nicosia

Rental prices skyrocket in Limassol and Nicosia

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.

 

 

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