Questions & Answers
Tenancy increases permitted by law in Cyprus
Dear Sir,
I am in the second year of a year by year tenancy contract with my landlord in central Larnaca. I am paying €430 per month for a two bedroom, one bath and a half, apartment on the 4th floor in a 10-year-old building.
Now, the landlord has foreshadowed a rise of €100 when the next period starts in February 2018.
The Cyprus Statistics Office has indicated to me that the rent levels in Larnaca have decreased a little during 2015 and -16, and shows zero change so far.
I have heard that there are legal limitations on the increase of rent, and I would be obliged if you could tell me what they are.
Many thanks
The tenancy can increase 10% every 2 years unless there is a significant increase on rental prices at the area, and it's up to the court to decide additional increase on top of 10% per two years.
I hope this answer is helpful.
