As the start of the new academic year approaches, many students face an uphill task in finding accommodation because of increased demand for a restricted number of apartments near to universities both in Nicosia and Limassol and spiraling rents
According to Phileleftheros newspaper, rents for flats close to the universities are soaring, as indicated by several real estate sites. The prices are slightly lower in Makedonitissa (close to University of Nicosia), with Aglantzia to follow, with the rent for a new, one bedroom apartment being approximately at €500, €800 for a two bedroom and up to €1,000 for a three bedroom. Prices differ for older flats, with the rent for a single bedroom unit reaching €400, €550 for a double and €700 for a three-bedroom apartment.
Factors such as building’s age, design, construction and size of the facilities and equipment of the property determine, to a large part, the prices.