Cyprus has confirmed its status as a country where the majority of residents own their homes. According to the latest data from Eurostat, published on Thursday, February 5, 69.4% of the population live in their own apartments and houses, while 30.6% of residents rent housing. These figures show that the structure of the housing market on the island remains stable despite rising property prices, increasing interest rates, and changes in migration flows.
Compared with pan-European indicators, Cyprus looks strong. On average across the European Union, the share of homeowners is 68%, while renters account for 32%. At the same time, a slight decline in homeownership levels occurs year by year, reflecting a gradual shift toward renting in a number of countries.
European picture: contrasts between countries
Eurostat data highlight sharp differences between EU member states. The highest homeownership rates remain concentrated in Eastern Europe. In Romania, 94% of residents are homeowners, in Slovakia — 93%, and in Hungary — 92%. This structure is explained by historical factors, including the mass privatization of housing stock and a cultural preference for property ownership.
At the same time, in certain Western and Northern European countries renting remains the dominant form of living. Germany continues to stand out in this context: 53% of its population lives in rented houses and apartments. In Austria, this figure reaches 46%, and in Denmark — 39%, reflecting developed rental markets and high population mobility.
Why Cyprus remains a country of homeowners
The relatively high level of homeownership in Cyprus is linked not only to traditions but also to economic characteristics. Real estate on the island is perceived as a long-term investment and an element of financial stability. Many families aim to purchase property in Cyprus at an early stage, and this asset is often passed on by inheritance, reducing dependence on the rental market. An additional factor remains the limited supply of affordable long-term rentals, especially outside major cities.
Market prospects
Experts note that if current trends continue, Cyprus will remain above the EU average in terms of homeownership rates in the coming years. However, the gradual increase in the number of renters, characteristic of the European Union as a whole, may eventually appear on the island as well, especially among the younger generation and mobile professionals.
Eurostat statistics show that the Cyprus real estate market maintains stability but is simultaneously influenced by pan-European processes that may in the future change the balance between ownership and renting.