According to the latest Eurostat data, Cyprus is one of the top countries in the European Union in terms of the age at which young people leave home. The average age is 27.2 years, which is higher than the EU average of 26.2 years. Croatia (31.3 years), Slovakia (30.9 years) and Greece (30.7 years) are the countries where young people stay with their parents for the longest, whereas in Finland (21.4 years), Denmark (21.7 years) and Sweden (21.9 years), independent living begins much earlier.
Cyprus is one of the EU leaders in terms of housing affordability for young people
The study pays particular attention to the financial burden associated with housing costs on the family budget. In Cyprus, only 2.8% of people aged 15 to 29 live in households that spend more than 40% of their income on housing. This is one of the lowest figures in the European Union. By comparison, the EU average is 9.7%, and in countries such as Greece (30.3%) and Denmark (28.9%), this figure is significantly higher. Consequently, young people in Cyprus, who tend to remain in their parents' homes for longer, are less likely to be "overburdened" by housing costs.
The housing situation in Europe: contrasting examples
While the burden on young people is minimal in Cyprus and Croatia, countries in Western and Northern Europe show much more serious indicators. In the Netherlands, 15.3% of young people spend a significant portion of their income on housing; in Germany, it is 14.8%; and in Sweden, 13.5%. At the same time, young people there leave their parents' homes much earlier, creating additional financial pressure.
Cyprus: a balance between tradition and economics
The combination of relatively late departure from the family home and low housing costs makes the situation in Cyprus unique within the EU. Family traditions of living together are preserved here, as well as a lower burden on household income compared to other EU countries. Experts note that, while this creates more stable conditions for young Cypriots in the short term, it may delay their full economic independence in the long term.
Current context
Against the backdrop of rising property prices and a worsening rental crisis in Europe, Cyprus's situation looks relatively favourable. At the same time, demand for the purchase and rental of real estate by foreigners continues to grow on the island. This may affect the availability of housing for local young people in the future. According to the Cyprus Real Estate Association, interest in apartments and houses in the cities of Limassol and Nicosia will increase in 2025, which will gradually increase the cost of housing and may change the dynamics reflected in the Eurostat report.
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