Rentals via Airbnb in Cyprus - What is the position of the province of Famagusta

Russian and British vacationers and visitors have the main say in renting houses and rooms through online platforms such as Airnbnb, in Cyprus.

According to data available to Insider, on the online rental platform Airbnb, there were more than 12,500 listings for rent until January 2019. Of these, 89% were for renting entire homes, while 10% were for renting a private room and only 1% was for renting a common room. It is noted that properties through Airbnb are rented in the occupied areas.

On average, the online platform records 6,3 nights for each listing.

Now in terms of the nationality of the tenants, the data give precedence to nationals of the United Kingdom and Russia. Specifically, 16% of tenants through Airbnb in Cyprus came from the United Kingdom and Russia. The percentage of Cypriots who rented through Airbnb was also high, after it reached 9%. They are followed by the Germans with 5%, the USA with 5% and Israel with 4%.

It is recalled that similar were the data that KPMG report on the real estate sector in relation to rentals through Airbnb. More specifically, according to the statistics presented by the April 2019 report, in 2018, 37.862 rentals were made, recording an increase of 71% compared to the previous year.

The report confirms that most tenants come from the United Kingdom and Russia, with Paphos leading the way with 16.922 visitors, followed by Larnaca with 12.450 visitors, Limassol with 10.323 visitors, Nicosia with 5.586 visitors and Famagusta with 3.078 visitors. He also notes that until February 2019, there were 4.538 active listings for rent, 45% of which in Paphos. Note also that on average the cost of rent per day for 2018 in Paphos was € 132, in Famagusta € 81, in Limassol € 65, in Larnaca € 48 and in Nicosia € 46.

Source: Philenews