Short-term lettings, real estate & tourism
Short-term Airbnb style property lettings will have a positive impact on the Cyprus real estate market and tourism industry, but balanced legislation is needed to ensure those positive impacts are achieved.
THE TREND in short-term lettings in Cyprus is gaining ground in 2019 and in the wider region in countries such as Israel and Greece. Since 2018 there has been a significant increase in the number of properties listed for short-term rent on Airbnb and other rental platforms; the response from tourists is very encouraging and positive.
According to statistics from Airbnb, 120,000 visitors from 125 different counties rented properties in Cyprus using their platform in 2017 – 2018 and this number is expected to rise significantly in 2019.