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RENTAL OPTIONS FOR STUDENTS

Published on 28th June 2019
RENTAL OPTIONS FOR STUDENTS
 
Today’s article aims to analyse the current student rental market and the choices available.
 
To begin with, there are two major categories of housing options.
 
The first concerns student housing buildings built on the basis of the relevant zoning regulations. They are usually relatively large buildings with common areas, reception halls, gyms, laundry rooms, etc.
 
They comprise numerous rooms fit for students, between 20-26 sq.m with a kitchenette and bathroom/shower room.
 
Electricity, water, internet and basic cable TV channels are included in the price. It can pretty much be likened to a hotel room.
 
Rental prices for this kind of rooms run between €480-550/month.
 
The second category includes all other housing units, built based on general zoning regulations.
 
They are independent units/flats in apartment blocks. The students sign a rental agreement and they register water/electricity under their name. The student enjoys all the benefits and obligations of an independent dwelling.
 
Students are usually interested in studios or 1-bedroom flats, in the vicinity of university campuses.
Western Nicosia and TEPAK area Limassol, furnished studio rents are between € 440-500. 1-bedroom furnished flats fetch between € 500-600. Similar flats in eastern Nicosia go for around € 50 cheaper.
 
Comparison

In order to combine similar, one has to add to the monthly cost of these flats expenses like electricity, water, internet, common expenses. These will cost € 100 or more per month.
 
Cypriots studying in Cyprus have one particularity.
 
During our university years, or those of our children (UK & Greek universities) it was very strange for a student to be living alone in a flat.
 
Living with a roommate was the rule rather than the exception. In Cyprus they all want to live alone, next to the university.
 
Simple arithmetic tells us that someone living alone in an 1-bedroom flat has to spend about € 700/month. On the contrary, someone sharing a 3-bedroom with 2 friends spends around € 350/month.
 
The majority of Cypriot students own a car. One would think that students with a car would not need to rent near the campus and pay high rents.
 
The options for Cypriot students are numerous. Someone whose priorities are safety, comfort and practicality will rent in a dormitory, and make the sacrifice of having to live in a smaller space.
 
Someone with a limited budget will opt for a bigger house with roommates and further away from the university
 
There are of course flats near bus stops. Cypriots will just have to learn to use public transportation for their own benefit.
 
Budget permitting, a nice 1-bedroom flat near the campus would be ideal.
 
It has to be understood that luxury 1-bedroom flats next to campus would be the ideal option but should not be referred to as the benchmark student accommodation whenever student housing rents are discussed in the media.
 
There are many options for variable budgets if one takes the time to look around eraly enough.
 
 

 
Written By:
George Mouskides
Director FOX Smart Estate Agency
Chairman Cyprus Property Owners Association (ΚΣΙΑ)

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