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The Highs And Lows Of Cyprus Rental Prices: A District-By-District Breakdown

by THEFUTURE.TEAM

January 21, 2025

A recent report from Landbank Analytics sheds light on the current state of rental prices for apartments and houses in Cyprus. The study highlights significant disparities in rental costs across the island’s five districts, offering a snapshot of the property rental landscape.

National Averages: Apartments vs. Houses

According to Andreas Christophorides, CEO of Landbank Group, the average monthly rent for an apartment in Cyprus is €1,803, while houses are considerably pricier at €3,249 per month. However, these averages mask sharp differences across districts, from budget-friendly options to luxury price tags.

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Limassol: The Most Expensive District

Limassol leads as the costliest district for rentals. Apartments in Limassol average €2,742 per month, with two-bedroom units being the most common at €2,460. One-bedroom apartments are listed at €1,599, while three-bedroom apartments fetch €3,225.

Houses in Limassol come with an even steeper price tag, averaging €4,492 per month. Three-bedroom homes dominate the market at €2,773, while four-bedroom houses command €5,000. Five-bedroom homes are rare and average an eye-watering €8,936.

Famagusta: The Most Affordable Option

On the other end of the spectrum, Famagusta offers the cheapest apartments in Cyprus, with an average monthly rent of just €745. This makes it the most economical choice for renters seeking affordable living spaces.

Nicosia: A Budget-Friendly Alternative

The capital city, Nicosia, stands as the second most affordable district for apartments, with an average monthly rent of €1,017. Two-bedroom apartments dominate the market, priced at €996 on average. Three-bedroom apartments are slightly higher at €1,319, while one-bedroom units are a steal at €674.

For houses, Nicosia offers 190 options, with an average rent of €1,900. Three-bedroom homes, the most common, cost €1,335, while four-bedroom options are priced at €2,094.

Larnaca & Paphos: Mid-Range Pricing

Larnaca offers 536 apartments for rent, averaging €1,120 per month. Two-bedroom units are the most prevalent at €1,114. Houses in Larnaca average €2,340 monthly, with 219 currently on the market.

In Paphos, 289 apartments are available for an average monthly rent of €1,193. Two-bedroom apartments dominate, priced at €1,228. Houses in Paphos average €2,692, making it the second most expensive district for house rentals after Limassol.

What’s Driving the Market?

Limassol’s appeal as a business hub and lifestyle destination contributes to its premium prices. Meanwhile, districts like Famagusta and Nicosia cater to those seeking affordable options without compromising on quality of life.

This analysis underscores the diverse rental landscape in Cyprus, where prices reflect a mix of urban demand, tourism appeal, and lifestyle preferences. Whether you’re looking for a cost-effective rental or a high-end property, Cyprus offers options to suit a variety of needs.

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Coinbase Faces $20 Million Ransom Demand After Data Breach

by News Editor

May 16, 2025

In a shocking revelation, Coinbase reported a significant security breach this Thursday. Cybercriminals managed to bribe overseas support agents to gain access to sensitive customer data—a strategy employed to facilitate social engineering attacks.

According to a SEC filing, the attack could cost Coinbase up to $400 million in recovery and enhancements. The breach, discovered independently by Coinbase, triggered an immediate response from the crypto giant. Affected employees were terminated, and impacted customers were promptly notified, although passwords and financial assets were reportedly untouched.

Coinbase decided to establish a $20 million reward fund for information leading to the perpetrators rather than succumbing to the ransom demands. This comes in the wake of major business strides, including an S&P 500 stock index entry and a strategic acquisition aimed at expanding its global footprint. Notably, Coinbase’s CEO, Brian Armstrong, reaffirmed ambitions to elevate the platform to become the top financial services app worldwide in the next decade.

As digital security remains crucial, awareness of similar endeavours like cyprus campaign to attract diaspora talent stresses an increasing need for reliable platforms. As the situation unfolds, both investors and customers remain vigilant, underscoring the importance of security in the growing crypto landscape.