Opens in a new tab

Breaking news

Cyprus Rental Market Remains Steady Amid Rising Demand and Regional Variations

by THEFUTURE.TEAM

Market Resilience Amid Rising Demand

The rental market across Cyprus continues to demonstrate remarkable stability, successfully balancing upward demand with an influx of new housing units. This dynamic equilibrium, as highlighted by Marinos Kineyirou, President of the Cyprus Real Estate Agents Registration Council, benefits both tenants and property owners by establishing a dependable and predictable market environment.

Regional Economic Drivers and Their Impact

Kineyirou’s insights reveal that while rental prices remain largely stable, notable disparities persist between regions. In Limassol, for instance, escalating rental costs are attributable to the city’s emergence as an international business hub. The convergence of multinational investments and an influx of highly skilled professionals has fueled demand for premium housing, thereby driving rental figures upward. Conversely, Nicosia’s vibrant student population has spurred a targeted expansion in housing designed to meet academic needs, ensuring moderate price adjustments despite significant demand.

Data-Driven Insights: Rental and Purchase Prices

The Council president provided detailed pricing data that underscores the region-specific trends. In Paphos and Larnaca, the monthly rental rate for a one-bedroom apartment is recorded at €500, while Limassol leads with prices reaching up to €1,100. When examining purchase prices, Paphos offers opportunities starting at €85,000 for a one-bedroom apartment compared to Limassol’s higher range, with costs peaking at €170,000. Beyond these basic figures, variations in apartment configurations—from one-bedroom to three-bedroom units—offer a comprehensive view of the market’s balanced growth across key urban centers.

Strategic Interventions and Market Adaptability

Strategic investments in student-specific housing have been integral in stabilizing rental levels in both Nicosia and Paphos. The establishment of dormitories alongside university infrastructures has mitigated the risk of rapid price escalations. In contrast, Larnaca, where student demand is less pronounced, continues its development at a steady pace, without the same upward pressure on rental prices experienced in other cities.

Conclusion: A Balanced Outlook for Cyprus Real Estate

Overall, the reported data and expert analysis reveal a market characterized by its adaptability and strategic response to varying regional demands. As economic and business developments, particularly in Limassol, drive heightened rental prices, targeted interventions in educational hubs ensure that the broader market remains balanced and accessible. Cyprus’ ability to maintain stability amidst a surge in demand remains a compelling indicator of its resilient real estate sector.

Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

Uol
eCredo
The Future Forbes Realty Global Properties
Aretilaw firm

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter