Cyprus records lowest housing cost overburden in the EU

Cyprus has recorded the lowest rate of housing cost overburden in the EU in 2020, the Ministry of Finance said Friday referring to Eurostat data.

It notes that the EU average was around 7.8%, but with significant 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 being 33.3%.

It adds that only 1.9% of the population of Cyprus spends more than 40% of its disposable income to meet housing needs.