Hundreds of young people have rallied in Cyprus southern city of Limassol, protesting against an increase in housing rent, which makes it for many virtually impossible to keep on living in the city.
On Saturday, an informal group under the name of Limassol For All held a protest near the city administration building, protesting against the high rent in the city. The thing is that over the course of two years, the rental rate has increased by 25%, Cyprus Property News reported.
According to the activists, the main reason for that is an endeavor to attract foreign capital into the city. So, targeting investors with high capital led to a cost increase in the rental housing market.
