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Cyprus Could Turn 30,000 Empty Buildings Into New Homes

by News Editor

August 24, 2026

Vacant Properties Could Be Renovated For Housing And Community Use

Cyprus has an estimated 30,000 vacant or abandoned buildings that could be renovated and brought back into use, potentially helping ease pressure on the housing market, particularly for renters.

Former parliamentary Environment Committee chairman Charalambos Theopemptou examined how other EU countries deal with vacant properties and outlined several measures Cyprus could consider.

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Lessons From Europe

Countries such as Ireland, France, Spain and Portugal use different combinations of renovation grants, tax measures and urban renewal programmes to encourage owners to bring empty properties back into use.

Ireland offers grants of up to €50,000 for vacant homes and €70,000 for derelict properties, while France and Spain use tax measures in areas with high housing demand. Portugal supports renovation through a dedicated urban renewal fund. Cyprus currently offers grants of up to €40,000 for renovating a three-bedroom home.

Creating A National Register

Theopemptou suggested creating a comprehensive register of vacant, abandoned and dangerous buildings, with municipalities and communities working alongside the Interior Ministry and technical services.

Properties could be classified according to their condition, historical or architectural value and location. Buildings near schools, public transport, local centres or areas with demand for affordable housing could receive priority.

He also proposed combining financial incentives with simpler procedures and faster technical assistance for owners willing to restore unused properties.

Putting Empty Buildings To Work

Once renovated, vacant properties could provide affordable and student housing, small businesses, cultural spaces and other community facilities. Long-term leases, partnerships with owners, social enterprises and unused municipal buildings could also contribute.

Many properties may not require major reconstruction. Structural assessments, cleaning, basic repairs, energy improvements, accessibility upgrades and reconnection to utilities could be enough to return some buildings to use.

Theopemptou also called for faster permits for smaller renovation projects and greater use of EU funding linked to the Renovation Wave initiative. Local authorities could further improve transparency by publishing data on vacant properties, including how many have been classified as dangerous, renovated or returned to use.

Bringing more of Cyprus’s unused buildings back into circulation could increase the housing supply while revitalising neighbourhoods and improving quality of life.

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Cyprus’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

by THEFUTURE.TEAM

September 16, 2026

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

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Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.