Limassol rent tops 91% of average Cypriot salary, study finds
A two-bedroom flat in Limassol can take almost an entire average monthly wage, while Thessaloniki tenants pay a far smaller share of their pay, according to new property market data.
Housing costs in Limassol are consuming nearly all of an average salary, according to figures reported by Cyprus Mail. A two-bedroom apartment there can absorb up to 91 per cent of one average monthly wage, far above the share needed in Greece, where rents remain lower.
According to Global Property Guide data, the median advertised rent for a two-bedroom flat is about €650 in Thessaloniki and €880 in central Athens. In Cyprus the same property type is advertised at €900 in Nicosia, €1,400 in Paphos and €2,100 in Limassol.
Eurostat figures put Cyprus' average annual full-time adjusted salary at €27,611 in 2024 against €17,954 in Greece. Even so, a €650 flat in Thessaloniki would take roughly 43 per cent of one Greek salary, while a €900 flat in Nicosia would take about 39 per cent of one Cypriot salary.
What it means for residents
For people already living and working on the island, the numbers underline how much of a household budget goes to keeping a roof overhead, and why moving or upgrading is a hard decision.
- Renters in Limassol face the tightest squeeze, with little left over after housing costs for other bills.
- Prospective buyers in Nicosia and Latsia may find more stock below €250,000, so it is worth checking those areas before committing elsewhere.
- Families paying for studies in Greece get real breathing room from the lower rents there, though wages for local workers in Greece remain far lower.
This text is written from the source article and is not a translation of it.
