The number of short-term rental properties has seen significant growth across Cyprus, according to data shared with the House of Representatives by the Deputy Ministry of Tourism.

Deputy Tourism Minister Kostas Koumis reported that 8,071 licences for self-catering accommodations have been issued or renewed nationwide, offering a total capacity of 35,894 beds.

Tourism official Marios Tsiannakas has previously noted a consistent increase in these numbers in recent years.

“We have surpassed 6,700 accommodations and exceeded 30,000 beds,” he stated earlier this year.

An analysis of the licences issued across districts reveals that Paphos leads with 3,900 such accommodations, providing 17,776 beds.

Famagusta follows with 1,775 accommodations and 9,034 beds, while Larnaca accounts for 1,139 accommodations with 4,258 beds.

Limassol has 962 accommodations with 3,650 beds, and Nicosia rounds off the list with 295 accommodations offering 1,106 beds.

Data from Eurostat, released on January 9, highlighted a 15.4 per cent increase in overnight stays at short-term rental properties in Cyprus.

The figure rose to 4,806,492 during January–September 2024, compared to 4,163,970 in the same period in 2023.

These numbers are based on data from platforms such as Airbnb, Booking, Expedia Group, and Tripadvisor.

August emerged as the peak month, with overnight stays reaching 939,859, marking a 17.4 per cent increase from 800,357 in August 2023.

Despite the growing trend, complaints about unlicensed short-term rental accommodations have surfaced.

The Deputy Tourism Ministry has confirmed several recent reports of non-compliant operations lacking necessary permits.

The data provided to the House Tourism Committee was part of an inquiry into the implementation of the law regulating the establishment and operation of hotels and tourist accommodations.

The committee sought detailed information on compliance with the legislation requiring property owners or operators to register their accommodations through an online platform.

Under current legislation, all self-catering accommodations must be registered with the Deputy Tourism Ministry and obtain a registration licence and number.

This number must be displayed in all advertisements and transactions.

Operating without a licence, or continuing operations after a licence has been revoked, constitutes a criminal offence.

Convicted individuals face up to one year in prison, a fine of up to €5,000, or both, while continuous violations after conviction incur additional fines of up to €200 per day.

Last year, the Cyprus Real Estate Agents Registration Council called on the government to ban short-term property rentals to help lower rental prices.

The council’s appeal came amidst rising concerns over the economic impact of the growing number of short-term rental properties, which the council blames for higher housing costs and the limited availability of long-term rental options.

“This phenomenon is taking on alarming proportions and is largely responsible for the skyrocketing rental prices of houses and apartments, keeping them at high levels,” the council said at the time.

Moreover, the council said that “while the demand for rental housing is increasing, the supply of properties is not keeping pace, resulting in rental prices reaching exceptionally high levels, often equivalent to a monthly salary”.