Increase in Short-Term Rental Bookings in Cyprus
January 12, 2025
Competition between hotels and short-term rental accommodations is rising in Cyprus, with thousands of visitors choosing Airbnb and other platforms for their holidays. In the third quarter of 2024, overnight bookings increased by 16.9% compared to 2023, totaling 4,806,492 stays. Online platforms have recorded significant growth, surpassing pre-COVID-19 levels. Additionally, legislation requires businesses to be registered and licensed.