In 2022, a noteworthy 13.6% of Cypriots lived in households with overdue payments on housing loans or unpaid rent and utility bills.
This stands in stark contrast to the European Union (EU) average of 9.2%, as reported by Eurostat in its latest publication, providing an insight into the housing sector in Europe.
Surprisingly, the average share of disposable income dedicated to housing costs in the EU was 19.6% in 2022, while Cyprus reported a significantly lower figure of 11.2%.
A majority, 69.6%, of Cypriots lived in owner-occupied homes in 2022, with 30% renting, figures aligning closely with the EU average of 69.1% homeownership and 31.9% renting.
Previously, homeownership rates among Cypriots were higher, but gradually declined, with countries like Romania and Slovakia now leading the EU with 95% and 93% of their populations living in their own homes, respectively.
In Germany, renting was more common, with 53% of the population being tenants, followed by Austria (49%) and Denmark (40%).
The choice between living in a house or an apartment also varied among member states and depended on the degree of urbanization, whether in a city, town, suburb, or rural area. The highest housing costs in 2022, compared to the EU average, were found in Ireland (112% above the EU average), Luxembourg (87% above), and Denmark (82% above), with Cyprus exceeding the EU average by over 77.3%.
The size of housing can be measured by the average number of rooms per person. Eurostat’s report revealed an average of 1.6 rooms per person in the EU in 2022.
Malta recorded the highest number among member states with 2.3 rooms per person, followed by Luxembourg (2.2 rooms), Belgium, Ireland, and the Netherlands (all with 2.1 rooms). Cyprus reported an average of 2 rooms.
On the other end of the scale were Poland, Romania, and Slovakia with 1.1 rooms per person, as well as Latvia (data from 2021) and Croatia, both with an average of 1.2 rooms per person.