Insider Business Streets with highest rents in Cyprus

Streets with highest rents in Cyprus

Nicosia’s Ledra Street, Stasikratous Street and Makarios Avenue and Limassol’s Anexartisias Street have the costliest rents for shops in Cyprus, according to a recently-released survey carried out by Danos & Associates.

Covering the first six months of 2019, the survey also shows that rents there have actually doubled within four years. And that Ledra Street is the most expensive of all with the rent for a 50 square metre shop today going for €3,500, compared to €1,750 in 2015 — an increase of 100%.

Rents on Ledra Street range from €20 to €70 per square metre a month while on Anexartisias Street, these are between €20 and €60 per metre a month.

The rent for a 50 square metre shop on Anexartisias Street today is €3,000, compared to €2,000 five years ago.

Up until a few years ago, the island’s costliest street in shop rents was Nicosia’s Makarios Avenue but this has changed. Rents now are between €10 to €60 per square metre and between €15 to €40 on Stasikratous Street. In other words, the rent for a 50 sq.m. shop is now €2,000 compared to € 1,250 five years ago.

The island’s shops are concentrated in its four main cities – Nicosia, Limassol, Larnaca and Paphos, the survey also shows. And that occupancy in the main commercial arteries of major cities increased during the first half of 2019. In addition, shopping centres and department stores continue to be very attractive to consumers who now seem to prefer more comfortable shopping conditions. Plus they like to  combine shopping with food and entertainment.

That’s why shopping centres which provide easy parking and access to air-conditioned areas, thus, combining shopping, entertainment and food under one roof, are popular with consumers of all ages. Anticipation is also high for outlet villages such as Neo Plaza as well, according to the survey.

At the same time, the sale of offices in Cyprus is on the rise with demand for Grade A working space growing significantly over the first nine months of 2019, compared to the last half of 2018.


Read more:



Top Stories

244 new cases, out of 11,163 tests announced on Friday

The Health Ministry announced 244 new Coronavirus cases out of 11,163 PCR and rapid antigen tests on Friday, 15 January, taking confirmed infections to...

Where to get antigen rapid tests on Saturday

The Health Ministry announced the following antigen rapid test sites for Saturday, 16 January 2021:   LIMASSOL Tassos Papadopoulos building – TEPAK, Limassol 08:30-16:30 Church Agia Varvara, Zakaki...

President Anastasides to get the second dose of COVID-19 vaccine next Monday

Cyprus President, Nicos Anastasiades, will receive the second dose of the vaccine against COVID-19, next Monday at the Health Center of Latsia, according to...

Expert says milder version of pandemic likely to be present in 2022

Dr Constantinos Tsioutis, Assistant Professor, Internal Medicine & Infection Prevention and Control at the Department of Medicine of the European University Cyprus and head...

Spain’s COVID-19 incidence climbs above 500 cases per 100,000 people

Increased activity at hospitals and health centres near Madrid was seen on Friday (January 15) as Spain's coronavirus incidence as measured over the past...


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...