Insider Business Rentals in Cyprus have good returns

Rentals in Cyprus have good returns

More income is received by those who rent out real estate rather than the ones who receive interest from deposits in banks.  In fact, at a time when depositors in Cyprus get crumbs since banks offer an interest rate ranging from 0.3% to 0.8%, those who get rents enjoy a return five to six times higher.

Latest data from Danos International Consultants and Real Estate Appraisers that Phileleftheros publishes shows the state of play of rental returns from houses, apartments, shops, offices and cottages in all of the island’s cities. Overall, rental returns range from 6.5% to 2%.

In Nicosia, rental yields for homes range from 3% to 4%, in apartments from 4% to 5%, in shops from 5.50% -6%, in offices from 5%-5.50% and in cottages from 2% to 2.5%.

In coastal Limassol, rental yields for homes range from 2.5% to 3%, in apartments from 4.5% to 5%, in shops from 5% to 5.5%, in offices from 5% to 5.5% and in holiday homes from 2.50% to 3.50%. Yields from house rentals in Larnaca range from 2.5% to 3.5%, in apartments from 4.50% to 5.50%, in stores from 5% to 5.50%, in offices from 5% to 6% and in cottages from 2% to 3%.

In Paphos, the rental yields enjoyed by property owners are from 3% to 4% in homes, 5% to 6% in apartments, 5.5% to 6.5% in stores, 5% to 6% in offices and 3.5% to 4% in holiday homes. In the Famagusta region house rental yields range from 3.5% to 4.5%, in apartments from 4.5% to 5.5%, in shops from 5% to 6%, in offices 5% to 6% and in cottages from 3.5% to 4%.

Investors have lately expressed significant demand for professional purposes real estate. These are either already leased, that is they provide the investor with a specific return, or are vacant and ready to be leased by the new owner.

Real estate experts believe the demand for property is due to declining interest rates, with investors looking for different types of investment ensuring a steady annual return which is well above that of deposits.


Read more:

Top Stories

Three covid deaths in Cyprus, new cases drop further to 157 but fewer tests

  Cyprus recorded three covid deaths over the past 24 hours, raising the number to 170,  113 men and 57 women, with an average age...

Thousands protest in Amsterdam against Dutch coronavirus lockdown

  Several thousand today people held an unauthorised protest in Amsterdam against a national lockdown to slow the spread of the coronavirus pandemic, before being...

Search and rescue crews looking for woman off Larnaca

The Search and Rescue Coordination Centre in Larnaca received a call around four in the afternoon about a 70 year old woman missing off...

Rapid Test locations on Monday Jan 18

Here are the rapid test locations for Monday January 18 Limassol Apostolos Loukas church, Ayios Athanasios (Ayios Athanasios refugee settlement) 8.30-4.30 Ayios Stylianos church, Linopetra 8.30-4.30 Mesa Yeitonia Cultural Centre...

German FM says COVID curbs should be eased for vaccinated people

  People who have been vaccinated against COVID-19 should be allowed to go to restaurants and cinemas earlier than others, a German minister said, contradicting...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...