Filenews 17 June 2022
Based on data announced yesterday by the European Statistical Office (Eurostat), Cyprus recorded the lowest rate of overburdened housing costs in the EU in 2020.
The EU average was 7.8%, but with large differences between member states. Rates below 5% were recorded in 13 member states, with the lowest rates in Cyprus (1.9%), Lithuania (2.7%), Malta (2.8%) and Slovakia (3.2%). Rates of more than 10% were recorded in three member states with the highest at 33.3%.
The rate of excessive burden of housing costs represents the proportion of the population living in households that spend 40% or more of their disposable income for housing purposes. Based on the above data, only 1.9% of the population of Cyprus spends more than 40% of their disposable income to cover housing needs. Therefore, the above-mentioned statistics demonstrate and confirm the affordability of housing living in Cyprus.
