Cyprus has the best share of its GDP invested in the housing sector in contrast with other EU Member States, in accordance to the Housing in Europe report released by Eurostat.
In 2020, in accordance to the report, 5.4% of the whole EU GDP was invested in housing.
At 7.6%, Cyprus was prime of the list for financial investment, followed by Finland at 7.1% and Germany at 1.1%.
At the other end of the scale, expenditure in Greece was 1.1%, Poland 2.% and Ireland 2.1% and Slovenia 2.3%.
Cyprus homes larger than EU common
Cyprus ranked fourth in the dimensions of house with 2 rooms for every person (with the EU normal of 1.6 rooms). Malta loaded the top location with 2.3 rooms, adopted by Belgium and Eire every single of which experienced 2.1 rooms.
The nations around the world with the least amount of rooms were Romania (1.1 rooms), Croatia, Latvia, Poland and Slovakia (all with 1.2 rooms on common for each particular person).
High-quality of housing
The good quality of housing can be calculated in many ways. Just one is whether folks reside in an overcrowded residence. In the EU in 2020, 17.8% of the populace lived in an overcrowded property, a share which has fallen from 19.1% in 2010.
In 2020, the best overcrowding rates have been recorded in Romania (45.1%), Latvia (42.5%) and Bulgaria (39.5%), and the most affordable in Cyprus (2.5%) and Malta (4.2%).
32% of the EU inhabitants stay in an below-occupied property. The common result in of less than-occupation is older people today or partners remaining in their property just after their young children have grown up and left. In the EU in 2020, virtually a third of the population (32.5%) lived in an underneath-occupied household, a share which has been virtually steady considering that 2010.
In 2020, the maximum rates of under-occupied households were being recorded in Malta (72.5%), Cyprus (71.4%) and Eire (63.3%), and the least expensive in Romania (7.1%), Latvia (10.3%) and Greece (11.%).
When seeking at the good quality of housing, the report regarded other facets including the skill to keep the property warm, the lack of rest room and shower and a leaking roof.
In the EU in 2020, 8.2% of the populace did not have the potential to retain the dwelling adequately warm. The best rates were being recorded in Bulgaria (27.5%), Lithuania (23.1%), Cyprus (20.9%) and Portugal (17.5%), and the least expensive in Austria (1.5%), Finland (1.8%) and Czechia (2.2%).
On regular in the EU, 1.5% of the population lacked a toilet, shower or bathtub. This was most typical in Romania (21.2% of the population), adopted by Bulgaria and Latvia (both of those 7.%) as perfectly as Lithuania (6.4%).
The final aspect the EU report regarded as in the Top quality of Housing section of its report was the percentage of individuals dwelling in a house with a leaking room.
Judging from the number of email messages I obtain about this particular issue, it came as no shock that 39.1% of the populace of Cyprus stay in a dwelling with a leaking roof nearly three times the EU normal of 13.1%.
Portugal came in next location with 25.2% and Slovenia came 3rd with 20.8%.
Housing charges and rents
There has been a regular upwards pattern in home charges considering the fact that 2013 with particularly large will increase between 2015 and 2020. In complete there was an boost of 26% among 2010 and 2020. There were improves in 23 Member States and decreases in 3 (facts for Greece not readily available) about this period.
The largest increases were being recorded in Estonia (+108%), Hungary (+91%), Luxembourg (+89%), Latvia (+81%) and Austria (+77%), whilst decreases were registered in Italy (-15%), Spain (-5%) and Cyprus (-4%).
There has been a continuous raise of rents in the EU amongst 2010 and 2020 14% in full through the whole period of time. Boosts were being recorded in 25 Member States and a tumble in two.
The largest raises ended up recorded in Estonia (+145%), Lithuania (+107%) and Ireland (+63%), even though decreases had been registered in Greece (-25%) and Cyprus (-5%).
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