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24H REPORT: RENT for a single-family home in EGOMI reaching €1000, citizens were outraged

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ΡΕΠΟΡΤΑΖ 24Η: Ε ΝΙΟμοιΕΚΗ ογε€1000, α€τσοι ολiτες

Citizens are not catching their breath/Accuracy is limiting and the high, now apartment rents are uncontrollable

What a real estate agent says on 24H and the reasons that led to the increase in rents

“Headache” is causing citizens high rents and probably, this situation is not going to change at this stage.

The supply and demand are increasing day by day, however according to the statements of a real estate agent on our website, he said that the rent increase is very simple.
When banks raise interest rates and it is difficult for people to get a loan.

Also, now the banks do not make loans to anyone, the bank's data are very hard and the interest rates are high. So with the increase in rents, the banks raised the interest rates.

Another reason is that the universities in Nicosia every year grow and grow, so there is enough demand from Europe for accommodation to rent. There is also the university market, when there is no demand, the apartment prices would not increase.

Now, the apartments reach €700. There are cases of one-bedroom, 55 square meter apartments near the European University reaching €800-€1000.


Source: 24h.com.cy

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