The number of official short-term rentals in Cyprus is constantly increasing.
According to data collected by Phileleftheros newspaper, in mid-September the number of official short-term rentals in Cyprus in the Ministery of Tourisms register reached 7,800, up from 7,312 just two months earlier, in July 2024. The number 7,800 corresponds to about 35 thousand beds.
It is noted that in April 2023, official accommodations stood at just 4,765, while a year later, in April 2024, about 7,000 accommodations were registered.
According to the publication, a source at the Ministry of Tourism said there are still a large number of applications pending for approval for registration. The state ministry is considering a new campaign to convince hosts to officially register their properties for inclusion in the Ministry’s register.
It is reported that hoteliers in Cyprus are putting intense pressure on the State Department and the government to take tougher measures against illegal accommodation and to limit short-term rentals on the island.
It is noted that last year the Cyprus Tourism Business Association (CTO) identified the number of short-term rental accommodation at 20,000 to 80,000, aproximately 100,000 beds, which is equal to the number of hotel beds in the Megalongo.
Official accommodation must-haves
According to Cypriot legislation, the operator of any self-catering accommodation may advertise and/or rent the accommodation only if it is registered in the Self-Catering Accommodation Register and has received a registration permit and a registration number. This number must be indicated in the advertising and/or promotion of the accommodation and in all related transactions.
In addition, the property must have appropriate insurance cover and meet appropriate standards.
Anyone who does not have a registration licence or whose registration licence has been revoked is guilty of an offence and, on conviction, is liable to imprisonment for up to one year or a fine of up to €5,000 or both.
If the infringement continues after conviction, the unlicensed party will be guilty of a further offence and will be liable to a further fine not exceeding two hundred euros (€200) for each day of continuation of the infringement.
The registration permit must be renewed every three years, within three months before the expiry of the existing registration. The registration fee for each self-catering accommodation is €222 every three years.
Income from the rental of self-catering accommodation is subject to income tax and VAT in accordance with the provisions of the respective legislation. They are also subject to overnight accommodation charges payable to the Local Authorities.
Self-catering accommodation is divided into three sub-categories:
1. Tourist Furnished Villages
2. Tourist Furnished Residences
3. Apartments
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